Reliance Industries Limited (RIL) has raised Rs 3,24,432 cr capital through equity sale in Jio Platform and retail, rights issue, asset monetisation. This was announced by the Chairman and Managing Director Mukesh Ambani during the 44th Annual General Meeting (AGM) of the company.  

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“RIL raised $44.4bn – largest ever capital raise by any company in a year globally. This capital raise is a strong vote of confidence by global investors in India’s growth potential,” Ambani said during his AGM address.

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The Chairman further said that even in a challenging environment of the pandemic, RIL’s performance continued to be “outstanding” adding that the consolidated revenue was at Rs 540,000 cr and consolidated EBITDA was at Rs 98,000 cr  and almost 50 per cent of EBITDA was contributed by consumer businesses. 

Ambani also highlighted RIL’s contribution to Indian economy calling it “unmatched with 6.8 per cent of India’s merchandise exports, 75,000 new jobs, Rs 21,044 cr of customs and excise payment. The company also paid  Rs 85,306 cr as Goods and Services Tax (GST)/Value Added Tax (VAT) apart from Rs 3,213cr of Income Tax. 

Among other key announcements, Ambani said that Reliance Industries will create and offer a fully integrated, end-to-end renewables energy eco-system. Over the next 3 years it will invest over Rs 60,000 crore in these initiatives, the Chairman added. 

He said that the Reliance Jio was the world’s 2nd largest mobile data carrier handling over 630 crore GBs a month. “This is 45 per cent growth in data consumption in the last year alone – a testament to the rapid pace at which India is digitizing,” he further said. 

While the announcements failed to inspire much confidence in the markets as the RIL stock continued its losing streak on the fourth day in a row. The stock price fell by over 3 per cent on the NSE and settled at Rs 1526.75.