Reliance Industries’ Rights Issue. Mr Mukesh Ambani has been trying to reduce the debt burden at Reliance Industries Ltd (RIL) for a while now. It’s been a personal mission of sorts and he’s gone to extreme lengths to ensure he musters enough cash to make RIL net debt-free by 2021 i.e. the company would still have some debt, but they’d have more than enough cash to cover for it. The Reliance issue record date is not yet declared. The official announcement says; "Further the Board constituted ‘Rights Issue Committee’ to decide the other terms and conditions of the Issue including the record date" Here's the official document 👇 And to this end, Reliance has been wooing investors from all over the world. First, there were talks of Saudi Aramco (Saudi’s state-owned oil producer) coming in and buying part ownership at Reliance Industries. The deal was supposed to go through this year. But Aramco has had a few hiccups of late. The company’s IPO did n
.png)
