Question: How Much Is Reliance Industries Debt?

How much is Mukesh Ambani debt?

Billionaire Mukesh Ambani on Friday announced that his oil-to-telecom conglomerate Reliance Industries is now net debt-free after raising a record Rs 1.69 lakh crore from global investors and a rights issue in under two months..

Can Mukesh Ambani pay Rs 2.88 lakh crore debt?

Mukesh Ambani announced at the Reliance Industries AGM earlier this month that the oil-to-telecom conglomerate will become a zero-net debt firm within the next 18 months. RIL’s consolidated debt stands at Rs 2.88 lakh crore currently. Find out how he plans to slash the debt.

Is Jio debt free?

Reliance is now net debt-free after Rs 1.69 lakh crore fundraising: Mukesh Ambani. … Saudi Arabian sovereign wealth fund PIF buying 2.32% stake in the unit for Rs 11,367 crore on June 18 “marks the end of Jio Platforms’ current phase of induction of financial partners,” the statement said.

How many helicopters does Mukesh Ambani have?

two choppersThe Mukesh Ambani-led Reliance Industries owns two choppers, a Dauphin and Sirkorsky, while Anil Ambani’s Anil Dhirubhai Ambani Group uses a Bell 412 helicopter.

Is Jio really profitable?

Jio’s net profit climbed 46% on-year to Rs 891 crore in the quarter to June, well above the roughly Rs 800 crore estimated by the markets. … IIFL said revenue of Rs 11,679 crore was a growth of 5% sequentially, or a daily revenue run-rate (DRR) growth of 4%, but marked a “significant” slowdown from recent quarters.

What is net debt of a company?

Net debt is a liquidity metric used to determine how well a company can pay all of its debts if they were due immediately. … Net debt is calculated by subtracting a company’s total cash and cash equivalents from its total short-term and long-term debt.

Is Reliance Industries debt free?

Reliance Industries’ (RIL) chairman Mukesh Ambani in a statement on Friday said the company has become debt-free after it managed to raise Rs 1,68,818 crore in just 58 days.

How did Reliance become debt free?

Ambani had publicly announced the goal to make RIL debt-free during the company’s annual general meeting in August last year. The aim was to get there by March 31, 2021. The major chunk of the money to clear debt came from selling stakes in RIL’s young telecom and internet venture, Jio Platforms.

What is net debt free company?

So, when a business says it is net debt-free, that does not mean it has repaid all its borrowings. … Now, the company says that with its recent fund raise of ₹1.69-lakh crore (₹1.16-lakh crore from the Jio deals and ₹53,000 crore from the rights issue), it has become net debt-free.

Who is richer Tata or Ambani?

However, Mukesh Ambani is richer than Ratan Tata. … In fact, more than 66% of the company stake is held by the charitable organisations such as the Sir Dorabji Tata Trust, Sir Ratan Tata Trust, Tata Education Trust and others.

What is the difference between total debt and net debt?

Net debt is the book value of a company’s gross debt less any cash and cash-like assets on the balance sheet. Gross debt, on the other hand, is simply the total of the book value of a company’s debt obligations.

How many rupees does Mukesh Ambani have?

India’s Mukesh Ambani overtook Steve Ballmer on Thursday to become the fifth-wealthiest person on the planet with a net worth of $77.4 billion (approx: Rs 5,75,380 crore as per latest dollar to rupee conversion rate).

What is mean by Ambani?

The word ‘Ambani’, when translated from Romanian to English on Google Translate, means ‘I have money’. … Mukesh Ambani is the richest person in Asia with an estimated net worth of $51.2 billion, according to the Bloomberg Billionaires Index.

Is RIL in trouble?

The rising debt level of Reliance demands critical attention as there has also been a consistent decline in revenue from oil, gas and petrochemical business. Investments in acquisitions is another cause for the huge debt pile of Rs 2.87 lakh crore at the end of 2018-19.

How much debt is Jio?

RIL to get 90% of recently infused funds. Reliance Jio’s net debt has fallen to ₹21,900 crore from its peak of ₹2.17 lakh crore, with global investors pumping funds over the last six weeks, for equity stake in its parent Jio Platforms Ltd., which is a wholly owned subsidiary of Reliance Industries Limited.