In the corporate’s newest annual report launched on Wednesday, he mentioned the corporate offered minority stakes in Jio Platforms — the unit that homes its telecom and digital enterprise — and retail arm for nearly Rs 2 lakh crore and raised one other Rs 53,124 crore via rights difficulty.
“We now have a robust steadiness sheet with excessive liquidity that can help progress plans for our three hyper-growth engines — Jio, Retail and O2C,” he mentioned.
During 2020-21, Reliance accomplished India’s largest ever rights difficulty of Rs 53,124 crore (oversubscribed by 1.59 occasions), which was additionally the biggest on the earth by a non-financial establishment within the final 10 years.
“During the 12 months, Jio Platforms and Reliance Retail raised Rs 1,52,056 crore and Rs 47,265 crore, respectively, from strategic and monetary buyers, together with Facebook and Google,” he mentioned. “BP invested Rs 7,629 crore for a 49 per cent stake in our gasoline retailing enterprise.”
These funds helped Reliance attain internet zero-debt goal forward of schedule.
“Strong working money circulate and largest ever capital increase additional strengthened our steadiness sheet, enabling us to deleverage and meet our net-debt zero dedication forward of said timeline,” he mentioned, including that throughout the 12 months, Reliance made pre-payment of $7.8 billion of long-term international foreign money debt, with requisite approvals from RBI.
This is the very best ever pre-payment of debt undertaken by any company borrower in India.