Stocks

RIL closes marginally lower on Monday

Our Bureau Mumbai | Updated on June 08, 2020

Shares of Reliance Industries Ltd (RIL), which rose to touch 52-week high of Rs 1,624 in early trade, closed down 0.67 per cent on Monday. The company’s shares ended at Rs 1,570.05.

On Sunday, in its eighth fund-raising in seven weeks, Jio Platforms, a subsidiary of Asia's richest man Mukesh Ambani-controlled Reliance Industries Ltd (RIL), has raised Rs 5,683.50 crore from Abu Dhabi Investment Authority (ADIA).

The fund-raising is in exchange of a 1.16 per cent stake in Jio Platforms on a fully diluted basis.

ALSO READ: Reliance Industries to be debt-free by year-end

With the latest round, Jio Platforms has raised a total of Rs 97,885.65 crore from global technology and growth investors such as Facebook, Silver Lake (two rounds), Vista Equity Partners, General Atlantic, KKR and Mubadala.

With plans to raise funds totalling Rs 1.62-lakh crore by December, RIL will emerge net-debt free by the end of this calendar year, much ahead of its own earlier estimates of debt-free by March 2021.

Published on June 08, 2020

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