Reliance Industries Ltd, on a quest to become a net-zero-debt company, has said that it will consider a rights issue of equity shares in its board meeting on 30 April 2020. Mukesh Ambani’s RIL is India’s most valuable listed firm, with a market capitalization of Rs 9.25 lakh crore. It is also one of the highest indebted companies in India, with a gross debt of over Rs 3 lakh crore, and net debt of over Rs 1.5 lakh crore. It is also one of the most cash rich companies with over Rs 1.3 lakh crore cash in hand. Earlier, in August last year, RIL Chairman Mukesh Ambani said he has pledged to make the company a ‘zero-net-debt’ firm.
