New Delhi: After making Reliance Industries debt-free, Mukesh Ambani can now issue IPOs for Jio platforms and retail businesses.
This information is given by Bernstein Research in its report. The company has raised liquidity of $ 22.3 billion (about Rs 1.7 lakh crore) in the last two months.
The company has sold a 24.7 per cent stake in Jio for about 1.16 lakh crores. Apart from this, 53 thousand crores have been earned by right issue tax.
Reliance has become debt free after collecting funds of 1.7 lakh crores. If we pay attention to its balance sheet, the net debt to equity ratio was 0.51 times in FY 2019-20, which is likely to decrease to 0.06 times in FY 2020-21. This will be the lowest level in the last decade.
