Reliance raised money from various companies, it may soon become debt free

Reliance Industries, controlled by industrialist Mukesh Ambani, is moving towards its goal of becoming a debt-free company.  During the la...

Reliance Industries, controlled by industrialist Mukesh Ambani, is moving towards its goal of becoming a debt-free company. During the last few weeks, Reliance has raised substantial funds from various companies, making it easier for them to achieve their goal of becoming a zero debt company. A brokerage company report states that even if Reliance's deal with Saudi Aramco is delayed, it will still be in a position to pay off its entire net debt. 78,562 crore raised by selling stake in digital unit Reliance Industries has raised a total of Rs 78,562 crore by selling  minority stake in its digital unit to Facebook and private equity companies like Silver Lake, Vista Equity, KKR and General Atlantic. Apart from this, the company is also raising Rs 53,125 crore through rights issue.

A research report of Rs 1.6 lakh crore loan to be paid in 2020-21 states that, 'We have analyzed the books of Reliance Industries after the recent deals. The company has raised Rs 1.3 lakh crore as equity during the last month. We estimate that even if the Aramco deal is delayed, the company will be able to repay its entire debt of Rs 1.6 lakh crore in 2020-21.

The report said that the company's adjusted net debt of Rs 2.57 lakh crore is somewhat higher and will take longer to repay.

Edelweiss has said that the company's telecom unit Jio's capital expenditure has been largely met. Thus, Reliance Industries will be able to achieve a free cash flow (FCF) of Rs 20,000 crore in 2020-21, despite lower income from the oil and gas sector.

Estimated to sell 20 percent stake in Jio
The brokerage company said, 'We estimate that Reliance Industries will sell a 20 per cent stake in Jio. Apart from this, the company will have cash of Rs 1.3 lakh crore after the rights issue, selling 49 per cent stake in the retail business of fuel to BP for Rs 7,000 crore. In such a situation, the company will be able to achieve the target of debt-free in 2020-21.

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Today's Latest news, Know What's happening in India- with Timesnowindia.com: Reliance raised money from various companies, it may soon become debt free
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