In Indian Currency rupee , Mumbai based Indian Mukesh Ambani Multinational commingling company, Reliance Industries Limited (RIL) on Today 19 June 2020 Company valuation rose to 150 billion USD following a rise in the share market, this also made RIL the first-ever Indian company to achieve a market value of above Rs 11 lakh crore (11 Trillion RS).
The positive growth in the shares of the company was registered after it announced that the company has become net debt-free well ahead of its target of March 2021.
As of 31st March 2020 (2019-2020 financial year), Reliance has a total debt of Rs 161,035 crore. Despite a pandemic, airlines & other international travel being suspended and a lockdown in most International business hubs across the world, in a period of 58 days, Reliance Industries was able to raise more than Rs 168,818 crore. Mukesh Ambani Multinational commingling company, Reliance Industries Limited (RIL) recently Rights Issue of Reliance Industries Limited (RIL).
Breakdown of which as follows:
- The existing shareholders of the company were offered shares worth Rs 53,124.20 crore.
- The remaining Rs 115,693.95 crore was raised through 11 deals of stake sale in RIL’s subsidiary Jio Platforms.
Stake’s of approx 24.70% in Jio Platforms are now owned by the following companies: United States of America company Facebook bought 9.99% stake at Rs 43,574 crore, this deal to date is the largest Foreign Direct Investment (FDI) in any sector in India 2020.
Other companies are Abu Dhabi based investment companies- Mubadala and Abu Dhabi Investment Authority, United States of America companies- General Atlantic, Silver Lake, Vista Equity Partners, KKR & CO. Inc., TPG Capital, and Catterton Partners. The most recent of the stake sale of 2.32% was on the 18 of June 2020 to the Public Investment Fund of Saudi Arabia at Rs 11,367 crore.
RIL becomes first Indian Company to be valued at 150 Billion USD RIL becomes first Indian Company to be valued at 150 Billion USD