Mukesh Ambani's personal companies reduce debt by selling assets

The debt reduction by RIHPL comes at a time when Reliance Industries is in talks with Saudi Aramco to sell around 25 per cent stake in its refining and petrochemicals businesses for $10-15 billion

It’s not only Reliance Industries, a listed company. Mukesh Ambani's personal companies too are reducing their debt by selling assets and transferring loans.

In November last year, rating firm CRISIL warned Ambani-owned Reliance Industries Holding Private Ltd (RIHPL) had a debt of about Rs 22,000 crore as of March 2018, showing relatively high gearing reflected in its adjusted debt and adjusted net worth of about 1.6 times.

Unlisted RIHPL’s subsidiaries run a large port project in Jamnagar, and 2,200 Mw power projects near RIL facilities in Jamnagar, and Hazira.

Till recently, an RIHPL subsidiary owned a gas pipeline connecting the Andhra coast to