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RIL on track to attain zero net debt even if Aramco deal is delayed: Report

Adjusted net debt, however, at Rs 2.57 trillion is higher and would take longer to repay

reliance industries, RIL

The Aramco deal was to conclude by March 2020 but it is now expected within 2020 calendar year.

Riding on the Rs 1.3 trillion in aggregate fund raising in the last few weeks, Reliance Industries is expected to repay its entire reported net debt even if the Saudi Aramco deal is delayed, a brokerage report said.

The company, controlled by billionaire Mukesh Ambani, has sold minority stakes in its digital arm to Facebook and private equity firms such as Silver Lake, Vista Equity, KKR and General Atlantic to raise a cumulative Rs 78,562 crore. Also, the company is raising Rs 53,125 crore through a rights issue.

"We analysed RIL's balance sheet following the recent deal-making. Having raised, on

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First Published: May 31 2020 | 1:35 PM IST

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