india

RIL turns net debt-free as investors flock to Jio

Raises over ₹1.68 lakh cr. in 2 months Reliance Industries Limited (RIL) has raised more than ₹1.68 lakh crore in less than two months against its net debt of ₹1.61 lakh crore, fulfilling Chairman Mukesh Ambani’s commitment of making the firm net debt-free by March 2021. A bulk of the capital — ₹1.15 lakh crore […]

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RIL rights issue subscribed 1.1 times

The rights issue of Reliance Industries (RIL), which will close on Wednesday, was subscribed 1.1 times till Monday. According to data with the stock exchange, bids were received for 46.04 crore equity shares as against 42.46 crore shares on offer. Further, while the BSE has received applications for 44.85 crore shares, bids for 0.57 rights […]

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RIL in talks to sell more stake in Jio Platforms

The talks with New York-based private equity firm General Atlantic to sell a 2% stake in Jio Platforms for ₹10,000 crore are among a series of stake sale initiatives by Reliance Industries Ltd (RIL) to build confidence among potential investors as it heads for a mega rights issue, said two people on condition of anonymity. […]

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How RIL plans to become zero net debt company

RIL’s debt stood at Rs 3.06 trillion as of December 2019, against Rs 2.87 trillion in March 2019. Reliance Industries (RIL) said on Monday that its board would consider a proposal to issue equity shares to existing shareholders on a rights basis, during its board meeting on Thursday. Analysts see the move as a bid […]

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RIL commits ₹500 crore to PM CARES fund

Firm gives ₹5 crore each to Maharashtra, Gujarat Reliance Industries Ltd. (RIL) announced a donation of ₹500 crore towards PM-CARES Fund in response to the call given by the Prime Minister to support the nation’s fight against the COVID-19 onslaught. In addition, the company has also contributed ₹5 crore each to the governments of Maharashtra […]

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RIL to consolidate media, distribution businesses

To merge the entities into Network18 Reliance Industries Ltd. (RIL) plans to consolidate its media and distribution businesses spread across multiple entities into Network18, in a move that will make Network18 an integrated media and distribution company with a revenue of ₹8,000 crore. “Under the Scheme of Arrangement, TV18 Broadcast, Hathway Cable & Datacom and […]

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Will the West Coast refinery take off?

BPCL’s impending privatisation and RIL’s stake sale to Saudi Aramco raise questions about the future of the West Coast Refinery, once touted as the world’s largest.Shine Jacob reports. Two events have raised doubts about India’s plans to build the world’s largest refinery. The 60 million tonne, $44 billion West Coast refinery project was announced in […]

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RIL’s two mega deals: What the brokerages say

Reliance announced energy asset sales worth around $ 16 billion; end of the investment cycle in telecom; bringing net-debt to zero in 18 months; value-unlocking options for real estate and financial assets; listing of telecom and retail in five years; and focus on dividends. Reliance Industries selling a stake in its oil and chemicals business […]

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RIL arm buys out Hamleys for £68 million

Reliance Brands, a subsidiary of Reliance Industries Ltd. (RIL), has signed a definitive agreement with C Banner International, a Hong Kong-listed company, to acquire 100% shares of centuries-old British toy retailer Hamleys for £68 million. Darshan Mehta, president and CEO, Reliance Brands, said, “Over the last few years we have built a very significant and […]

india

TCS back as India’s most valued firm; RIL is 2nd

The IT major is followed by RIL (Rs 795,628.55 crore), HDFC Bank (Rs 624,362.11 crore), Hindustan Unilever (Rs 367,880.69 crore) and ITC (Rs 367,513.78 crore). Software services major Tata Consultancy Services on Thursday reclaimed the status of the country’s most valued firm by market valuation, surpassing Reliance Industries Ltd (RIL). RIL shares have been on […]