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Reliance Jio Might Clear All Its Dues Soon: Report
Reliance Jio has raised more than 1.3 lakh crore by selling its stake to five firms. The company has raised this much amount in just one month, and now it has been reported that it is likely to clear all dues, without any other deal or if it delays.
"We analyzed RIL's balance sheet following the recent deal-making. Having raised, on aggregate, Rs 1.3 lakh crore in equity over the past month, we expect the company to repay its entire reported net debt of Rs 1.6 lakh crore in 2020-21, even if the Aramco deal is delayed," research firm Edelweiss was quoted by PTI.
However, the debt is more than 1.3 lakh crore and will take longer to pay the whole amount. Recently, the operator has sold a 17 percent stake to Facebook, General Atlantic, Vista Equity Partner, Silver Lake, and KKR. These stakes selling has increased the enterprise value of Reliance Jio.
"To repay this, RIL will need to tap into its massive divestment pipeline of oil-to-chemical (O2C) assets (Rs 1 lakh crore) and fiber InvIT (Rs. 1.2 lakh crore). Progress on this front would, therefore, continue to allay market concerns around leverage," the report added.
Microsoft $2 Billion In Reliance Jio Platforms
Microsoft is also planning to invest $2 billion in Jio platforms. So, this might be the sixth investment in the Jio. Microsoft is expected to but 2.5 percent. "If the deal is successful, the world's most valuable company will get a stake in Jio Platforms that has already attracted investments worth $10 billion," sources close to the development was quoted by Live Mint.
Meanwhile, RIL launches chatbot for its shareholders so that it can answer all queries of Rs. 53,125 crore right issue. To avail, these service shareholders have to save one WhatsApp number +91-79771 11111 first. This number will provide all details, such as videos and dates about the right issue. This new development comes a month after Jio announced its partnership with Facebook. Notably, these videos will be available in multiple languages, such as Hindi, English, Gujarati, Marathi, Bangla, and Kannada.
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99,999
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1,29,999
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69,999
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41,999
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64,999
-
99,999
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29,999
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63,999
-
39,999
-
1,56,900
-
1,39,900
-
1,29,900
-
79,900
-
65,900
-
12,999
-
96,949
-
16,499
-
38,999
-
49,999
-
30,700
-
12,500
-
68,999
-
23,990
-
1,25,999
-
36,999
-
38,999
-
1,17,840
-
35,000
-
23,960
-
82,510