In pics: How Mukesh Ambani's RIL became net debt-free in just 58 days

Topics Reliance Jio | Facebook | KKR

RIL net debt free before schedule, said group chairman Mukesh Ambani in a statement on Friday

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Reliance Industries is net debt-free after raising a record Rs 1.69 lakh crore from global investors and a rights issue in almost two months, said group chairman Mukesh Ambani in a statement on Friday

As on March, Reliance had a net debt of Rs 1.61 trillion and the company had earlier set March 2021 as the deadline for turning debt free. 

"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 March 31, 2021." Reliance chairman Mukesh Ambani said in a statement.

Ambani also disclosed that the company has received interest from strategic and financial investors in consumer businesses, Jio and Reliance Retail. He added the company will induct investors in next few quarters and move towards listing of both these companies in next five years.

Deal 1: Facebook invests Rs 43,574 cr

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Photo: Shutterstock

On April 22,  Mark Zuckerberg took to Facebook to announce that the technology giant will acquire a 9.99 per cent stake in Jio Platforms Ltd (JPL) through a fresh issue of shares worth Rs 43,574 crore. The deal values JPL—the holding company of Reliance Jio — at an enterprise value Rs 4.62 trillion.

Deal 2: Silver Lake brings Rs 5,655.75 cr... 

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On May 3, the company announced its second deal with private equity (PE) firm Silver Lake for 1.15 per cent stake worth Rs 5,655.75 crore. While the deal is smaller than the one with Facebook for 9.99 per cent stake, it comes at a 12.5 per cent premium.

... and (later) Rs 4,546.80 cr more

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On June 5, Silver Lake has invested an additional Rs 4,546.80 crore in Reliance Industries' digital arm Jio Platforms to raise its stake in the firm to 2.08 per cent. Reliance Industries in a statement said with this, aggregrate investment by Silver Lake in Jio Platforms will be Rs 10,202.55 crore. 

Deal 3: Vista Equity Partners invests Rs 11,367 cr

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On May 8, the telecome giant announced its third deal in which Vista Equity Partners invests Rs 11,367 crore in JPL in return for a 2.3 per cent stake in it.

Deal 4: General Atlantic buys Rs 6,598.38-cr stake

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On May 17, RIL announced the sale of a 1.34 per cent stake in its digital services subsidiary, Jio Platforms, to private equity (PE) firm General Atlantic for Rs 6,598.38 crore to accelerate consumer business and cut debt. This was the fourth such stake sale within a month and it values Jio Platforms at Rs 4.91 trillion on an equity basis and Rs 5.16 trillion on an enterprise-value basis. 

Deal 5: KKR brings Rs 11,367 cr

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On May 22, KKR picks up 2.32 per cent stake in Mukesh Ambani's Jio Platforms for Rs 11,367 crore. For KKR, which has investments in Avendus Capital, Bharti Infratel, Coffee Day Resorts, and Max Financial Services, this is its biggest bet in Asia.

Deal 6: Mubadala invests Rs 9093.6 cr

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On June 5, the Jio Platforms investment is the largest in an Indian firm by Mubadala, which is the second-biggest state investor in Abu Dhabi after Abu Dhabi Investment Authority (ADIA), managing about $240 billion in assets, reported Reuters.

Deal 7: Abu Dhabi Investment Authority buys 1.16% stake

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On June 7, Reliance Industries Limited (RIL) and Jio Platforms Limited announced an investment of Rs 5,683.50 crore by a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA). This investment values Jio Platforms at an equity value of Rs 4.91 trillion and an enterprise value of Rs 5.16 trillion.

ADIA’s investment will translate into a 1.16% equity stakein Jio Platforms on a fully diluted basis.

 

Ambani gets 552,000 shares in RIL rights issue- the largest ever in India

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Billionaire Mukesh Ambani has got 552,000 shares of his flagship firm Reliance Industries (RIL) in the just-concluded Rs 53,124-crore rights issue, according to the company’s regulatory filing on June 11, 

However the company will be receiving only 25 per cent of the issue proceeds ( Rs 13,000 odd crore) in the current fiscal under the share sale process.

Deal 8: TPG invests Rs 4,546.8 cr

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On June 13, RIL had announced the sale of 0.93 per cent equity stake in Jio Platforms to global alternative asset firm TPG on a fully diluted basis for Rs 4,546.8 cr. That deal, RIL said, valued Jio Platforms at an equity value of Rs 4.91 trillion and an enterprise value of Rs 5.16 trillion.

Deal 9: Second deal on June 13, L Catterton brings Rs 1894.5 cr

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In its second major deal announcement on June 13, Mukesh Ambani-promoted Reliance Industries Ltd (RIL) said consumer-focused private equity firm L Catterton was making an investment of Rs 1,894.50 crore in its digital services arm Jio Platforms at an equity value of Rs 4.91 trillion and an enterprise value of Rs 5.16 trillion.

L Catterton’s investment will translate into a 0.39 per cent equity stake in Jio Platforms on a fully diluted basis.

 

Deal 10: Public Investment Fund invests Rs 11,367 crore

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On June 18, Reliance said Saudi Arabia’s Public Investment Fund will buy a 2.32 per cent stake in its digital unit Jio Platforms for Rs 11,367 crore.

In the last two months Jio Platforms, the company's digital services subsidiary, has raised Rs 1.15 trillion offering 24.7 per cent stake to a clutch of global investors including private equity firme and sovereign wealth funds from Saudi Arabia and UAE.

 

 


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