Muumbai: Reliance Industries Limited has raised over Rs.  168,818 crore in just 58 days through Investments by global tech investors  – Rs. 115,693.95 crore and  Rights Issue   –Rs. 53,124.20 crore.

The combined capital raised has no precedence globally in such a short time. Both of these are also unprecedented in Indian corporate history and have set new benchmarks. This is even more remarkable that this was achieved amidst a global lockdown caused by the COVID-19 pandemic.

Along with the stake sale to BP in the petro-retail JV, the total fund raise is in excess of Rs. 1.75 lakh crore.

Company’s  net-debt was Rs. 161,035 crore, as on 31^st March 2020. With these investments, RIL has become NET DEBT-FREE.

Jio Platforms has raised Rs. 115,693.95 crore from leading global investors including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, TPG, L Catterton and PIF since April 22, 2020.  PIF’s investment marks the end of Jio Platforms’ current phase of induction of financial partners.

 

S No	Investor In Jio Platforms Limited	Date of Investment	Investment Amount      (₹ Crore)	% Stake
1	Facebook, Inc.	22nd April 2020	43,573.62	9.99%
2	Silver Lake Partners	4th May 2020	5,655.75	1.15%
3	Vista Equity Partners	8th May 2020	11,367.00	2.32%
4	General Atlantic	17th May 2020	6,598.38	1.34%
5	KKR	22nd May 2020	11,367.00	2.32%
6	Mubadala	5th June 2020	9,093.60	1.85%
7	Silver Lake Partners – Additional Investment	5th June 2020	4,546.80	0.93%
8	Abu Dhabi Investment Authority	7th June 2020	5,683.50	1.16%
9	TPG	13th June 2020	4,546.80	0.93%
10	L Catterton	13th June 2020	1,894.50	0.39%
11	PIF	18th June 2020	11,367.00	2.32%
	Total		₹ 115,693.95	24.70%
	RIL RIGHTS ISSUE	20th May to 3rd June 2020	₹ 53,124.20
	GRAND   TOTAL OF INVESTMENTS RAISED IN JUST 58 DAYS		₹168,818.15

The RIL Rights Issue, which was subscribed 1.59 times, was not only the largest ever in India, but also the largest in the world by a non-financial entity in the last ten years.

On 12^th August 2019, at the 42^nd AGM of Reliance Industries Limited, Chairman Shri Mukesh Ambani had assured the shareholders about his roadmap for Reliance becoming a net-debt free company before 31^st March 2021 and said:

“We have a very clear roadmap to becoming a zero net debt company within the next 18 months that is by 31st March 2021……

We have received strong interest from strategic and financial investors in our consumer businesses, Jio and Reliance Retail. We will induct leading global partners in these businesses in the next few quarters, and move towards listing of both these companies within the next five years……

With these initiatives, I have no doubt that your company will have one of the strongest balance sheets in the world.”

Expressing his gratification at this achievement, Shri Mukesh Ambani stated, “Today I am both delighted and humbled to announce that we have fulfilled our promise to the shareholders by making Reliance net debt-free much before our original schedule of 31^st March 2021. Exceeding the expectations of our shareholders and all other stakeholders, again and yet again, is in the very DNA of Reliance. Therefore, on the proud occasion of becoming a net debt-free company, I wish to assure them that Reliance in its Golden Decade will set even more ambitious growth goals, and achieve them, in fulfilment of the vision of our Founder, Dhirubhai Ambani, to consistently increase our contribution to India’s prosperity and inclusive development.”

Shri Mukesh Ambani further said: “Over the past few weeks, we have been overwhelmed by the phenomenal interest of the global financial investor community in partnering with Jio. As our fund-raising milestone from financial investors is achieved, we sincerely thank the marquee group of financial partners and warmly welcome them into Jio Platforms. I also express my heartfelt gratitude to all the retail and institutional investors, both domestic and foreign, for their overwhelming participation in our record-setting Rights Issue.”