Mukesh Ambani-promoted Reliance Industries (RIL) has said it is confident of achieving its target of zero net debt in the current calendar year.
This is ahead of the March 2021 deadline Ambani had set in 2019. While the earlier expectation was that RIL’s Aramco deal will help meet this target, a surprise rights issue and divestment in Jio Platforms may do the trick instead.
On Thursday, RIL did not give a timeline for the Aramco deal. But it said it was in good shape to announce a Facebook (FB) investment size deal in the coming months (for Jio Platforms).
