RIL’s surplus inflows may be used as war chest to speed up organic, inorganic opportunities: Report
The current fiscal can be termed as a year of deals for Reliance Industries, with a slew of transactions already announced and a few large ones in the pipeline, a report said adding that the surplus cash inflows may be used as a war chest to accelerate organic and inorganic opportunities amid ongoing adversities.
Reliance Industries Ltd (RIL) has announced multiple transactions over the past several months to reduce overall net debt and off-balance sheet liabilities (InvITs) by a cumulative amount of Rs 2.1 lakh crore, brokerage Kotak Institutional Equities said in a report on Monday.
The transactions include sale of 9.99 per cent stake in the firm’s digital unit Jio Platforms (JPL) to Facebook for Rs 43,573.62 crore, sale of 12.37 per cent stake in Jio Platforms to eight global investors for Rs 60,800 crore.
