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Reliance Industries rights issue opens today; here's all you need to know about biggest-ever fundraiser
Business

Reliance Industries rights issue opens today; here's all you need to know about biggest-ever fundraiser

Reliance Industries has already garnered Rs 67,195 crore through stake sale in Jio Platforms in four weeks ahead of its rights issue.

Reliance Industries to use three-fourth of Rs 53,125-cr rights issue proceeds to repay debt
Business

Reliance Industries to use three-fourth of Rs 53,125-cr rights issue proceeds to repay debt

Reliance Industries will use three-fourth of proceeds of its mega rights issue for repayment of some of its borrowings, according to offer document

Rights issue credit positive for Reliance Industries; to result in debt reduction: Moody's
Business

Rights issue credit positive for Reliance Industries; to result in debt reduction: Moody's

Moody's Investors Service on Monday said Reliance Industries' Rs 53,100 crore rights issue is credit positive as earnings will decline because of economic shutdowns

Reliance Industries to raise Rs 53,125 cr via India's biggest rights issue, first-time after 30 years
Business

Reliance Industries to raise Rs 53,125 cr via India's biggest rights issue, first-time after 30 years

Billionaire Mukesh Ambani's Reliance Industries Ltd (RIL) on Thursday announced fund raising of Rs 53,125 crore by way of a 1:15 rights issue, the first such issue in nearly three decades, as it steps up efforts to pare debt

Reliance Industries to hive off $75 bn oil-to-chemical business into separate unit for sale to Aramco
Business

Reliance Industries to hive off $75 bn oil-to-chemical business into separate unit for sale to Aramco

Reliance Industries Ltd (RIL), India's largest company, on Thursday said its board has approved hiving off its $75 billion worth oil-to-chemicals business into a separate division to enable the sale of 20 percent stake in the unit to Saudi national oil company Aramco

Reliance Industries Q4 results: Net profit at Rs 6,546 cr; announces India's biggest rights issue of Rs 53,125 cr
Business

Reliance Industries Q4 results: Net profit at Rs 6,546 cr; announces India's biggest rights issue of Rs 53,125 cr

Reliance Industries has declared a dividend of Rs 6.50 per equity share of Rs 10 each for the financial year ended 31 March, 2020.

Industry leaders applaud Facebook-Jio deal; say India to be growth epicentre post-COVID crisis
Business

Industry leaders applaud Facebook-Jio deal; say India to be growth epicentre post-COVID crisis

Facebook's Rs 43,574 crore-investment in Jio Platforms earned accolades from industry leaders on Wednesday, even as some internet activists raised privacy concerns

Construct of FB-Jio deal does not mean that two sides will not compete in the market: Facebook
Business

Construct of FB-Jio deal does not mean that two sides will not compete in the market: Facebook

Facebook and Jio will look to drive synergies and areas of collaboration but the mega-deal does not mean that the two sides will not compete in the market, officials said on Wednesday

Anand Mahindra lauds Reliance Jio-Facebook deal; says 'Bravo Mukesh!' on Twitter
Business

Anand Mahindra lauds Reliance Jio-Facebook deal; says 'Bravo Mukesh!' on Twitter

Anand Mahindra, Group Chairman, Mahindra lauded Mukesh Ambani, Chairman, Reliance Industries for mega Rs 43,574 -crore Reliance Jio-Facebook deal.

Jio emerges as a leapfrogging platform in Ambani's industrial shuffle, aided by trademark financial engineering
Business

Jio emerges as a leapfrogging platform in Ambani's industrial shuffle, aided by trademark financial engineering

Reliance Jio plans to offer new Bollywood releases into broadband-linked living rooms across India. Where will that leave multiplex operators?

Facebook investment to accelerate Reliance Jio's digital monetisation drive: Analysts
Business

Facebook investment to accelerate Reliance Jio's digital monetisation drive: Analysts

Facebook's move to pick up about 10 percent stake in Jio Platforms will accelerate Jio's digital monetisation drive and put Reliance Industries (RIL) on course to turn net debt-free by March 2021, analysts said on Wednesday

Jio-Facebook deal looks at local level e-commerce; to cover education, health gradually: Mukesh Ambani
Business

Jio-Facebook deal looks at local level e-commerce; to cover education, health gradually: Mukesh Ambani

Reliance Jio and Facebook will look to use WhatsApp for delivering goods from local neighborhood Kirana stores to consumers before expanding collaboration in education and healthcare sector, billionaire Mukesh Ambani said soon after announcing the mega Rs 43,574 -crore deal

RIL shares zoom over 10% on Rs 43,574-cr Jio-Facebook deal; market cap rallies Rs 80,710 cr
Business

RIL shares zoom over 10% on Rs 43,574-cr Jio-Facebook deal; market cap rallies Rs 80,710 cr

Shares of Reliance Industries on Wednesday jumped over 10 percent after Facebook announced an investment of $5.7 billion (Rs 43,574 crore) to buy a 10 percent stake in Jio Platforms

Facebook invests Rs 43,574 cr in Reliance Jio for 9.99% stake; becomes largest minority shareholder
Business

Facebook invests Rs 43,574 cr in Reliance Jio for 9.99% stake; becomes largest minority shareholder

The investment values Jio Platforms amongst the top 5 listed companies in India by market capitalization, within just three and a half years of launch of commercial services