Question: How Much Debt Is Jio?

What is the debt of Reliance Industries?

Reliance Industries Ltd (RIL) has announced that it has become net-debt free.

In March 2020, the company had reported a net debt of ₹1.61 trillion ($21 billion).

Since then, it has raised $15.2 billion by selling stakes in Jio Platforms Ltd.

Its $7 billion rights issue was oversubscribed 1.6 times..

Is RIL in trouble?

The rising debt level of Reliance demands critical attention as there has also been a consistent decline in revenue from oil, gas and petrochemical business. Investments in acquisitions is another cause for the huge debt pile of Rs 2.87 lakh crore at the end of 2018-19.

How can I get Reliance rights issue?

One can also apply on this website https://rights.kfintech.com. Investors can click on ‘apply for rights issue through RWP’ tab, fill in basic details (like PAN, Folio, etc.) online and make payment through net banking or UPI for the number of rights shares ordered.

How much money did Mukesh Ambani have?

80 billion USD (2020)Mukesh Ambani/Net worth

How much debt does India have?

India: National debt from 2014 to 2024 (in billion U.S. dollars)National debt in billion U.S. dollars20181,801.9820171,615.1820161,448.0320151,319.327 more rows•May 5, 2020

Is Jio losing money?

NEW DELHI: Reliance Jio Infocomm Ltd, India’s most profitable wireless carrier, could lose as much as Rs 15,000 crore ($2.1 billion) this fiscal year when costs such as handset subsidies are included, said Chris Lane and Samuel Chen, analysts at Sanford C Bernstein & Co.

What is full name of Jio?

Reliance Jio Infocomm LimitedReliance Jio Infocomm Limited, d/b/a Jio, is an Indian telecommunications company and a subsidiary of Jio Platforms, headquartered in Mumbai, Maharashtra, India. It operates a national LTE network with coverage across all 22 telecom circles.

Is Jio losing customers?

The big hit was on Vodafone Idea in March, with the company losing 6.35 million customers and its total subscriber based falling to 319.16 million. Reliance Jio also has a higher market share now with a clear lead of 33.37 percent, whereas Airtel’s market share is at 28.21 percent and Vodafone Idea’s at 27.5 percent.

Why is Jio so cheap?

Because of two reasons First is to add customers they are giving cheap Internet which Indians users never dreamt of. We were used to see data plans like 275₹ for 1 GB. But wait they could provide reasonable cheap price like 50 for 1 GB. They could still lure subscribers with this price.

Is Jio debt free?

RIL raised more than Rs 168,818 crore in just 58 days through Rs 115,693.95 crore collected from investors in Jio and another Rs 53,124.20 crore from a rights issue. … With these investments, RIL has become net debt-free.”

Is Jio going public?

NEW DELHI: Reliance Industries Limited will take its 67% subsidiary Jio Platforms public in time to come, Mukesh Ambani, the chairman and managing director of the petchem to mobile conglomerate told shareholders at its 43rd annual general meeting on Wednesday.

Why is Jio selling stake?

The credit rating agency made the comment on a day when Reliance announced sale of 2.32 per cent stake in Jio Platforms to global investment firm KKR & Co. Inc for Rs 11,367 crore — the fifth deal in four weeks that will inject a combined Rs 78,562 crore in the oil-to-telecom conglomerate to help it pare debt.

How do I purchase an IPO?

If you want to purchase stock at the IPO or afterward, register with a stockbroker and wire funds to your brokerage account. When the IPO occurs, call your broker or go online, enter the stock symbol of the company and purchase the amount of shares you want.

Is Mukesh Ambani under debt?

Billionaire Mukesh Ambani on Friday announced that his oil-to-telecom conglomerate Reliance Industries is now net debt-free after raising a record Rs 1.69 lakh crore from global investors and a rights issue in under two months.

Which company is debt free in India?

debt free companies by sanjeevS.No.NameNP Qtr Rs.Cr.1.Hind. Unilever1898.002.Castrol India65.403.Colgate-Palmoliv198.184.Diamines & Chem.6.3122 more rows

What is net debt free?

So, when a business says it is net debt-free, that does not mean it has repaid all its borrowings. … For instance, in the case of Reliance Industries, its net debt as on March 2020 was ₹1.61-lakh crore (outstanding debt of ₹3.36-lakh crore minus cash and equivalents of ₹1.75-lakh crore).