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Jun 19: 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.

Reliance raised Rs 1.15 lakh crore from global tech investors by selling a little less than a quarter of the firm's digital arm, Jio Platforms Ltd, and another Rs 53,124.20 crore through a rights issue in the past 58 days.

Taken together with last year's sale of 49 per cent stake in fuel retailing venture to BP Plc of UK for Rs 7,000 crore, the total fund raised is in excess of Rs 1.75 lakh crore, the company said in a statement.

Reliance had a net debt of Rs 1,61,035 crore as on March 31, 2020. "With these investments, RIL has become net debt-free," it said.

"I have fulfilled my promise to the shareholders by making Reliance net debt-free much before our original schedule of March 31, 2021," Ambani said.

Jio Platforms - which houses the country's youngest but largest telecom firm Reliance Jio, raised Rs 1,15,693.95 crore from leading global investors including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, TPG, L Catterton and PIF since April 22, 2020.

Saudi Arabian sovereign wealth fund PIF buying 2.32 per cent stake in the unit for Rs 11,367 crore on June 18 "marks the end of Jio Platforms' current phase of induction of financial partners," the statement said.

Alongside, Reliance launched India's biggest right issue, which was subscribed to 1.59 times.

Though the rights issue size was Rs 53,124 crore, the company has got only 25 per cent of the money as the remaining is to be paid only next fiscal.

Ambani had at the company's annual general meeting on August 12, 2019, announced a roadmap for Reliance to become a net debt-free company before March 31, 2021.

"We have a very clear roadmap to becoming a zero net-debt company within the next 18 months that is by March 31, 202," he had said last year highlighting strong interest from strategic and financial investors in consumer businesses, Jio and Reliance Retail.

In the statement on Friday, he said he was both delighted and humbled to announce the fulfillment of the promise.

"Exceeding the expectations of our shareholders and all other stakeholders, again and yet again, is in the very DNA of Reliance," he said.

"Therefore, on the proud occasion of becoming a net debt-free company, I wish to assure them that Reliance in its Golden Decade will set even more ambitious growth goals, and achieve them," he added.

He said over the past few weeks, phenomenal interest was received from the global financial investor community in partnering with Jio.

"As our fundraising milestone from financial investors is achieved, we sincerely thank the marquee group of financial partners and warmly welcome them into Jio Platforms," he said.

"I also express my heartfelt gratitude to all the retail and institutional investors, both domestic and foreign, for their overwhelming participation in our record-setting Rights Issue," he added.

Hyderabad, Mar 31: Six people from Telangana who attended a religious congregation in Delhi's Nizamuddin died due to the novel coronavirus, the state government said on Monday.

"Coronavirus has spread among some of those who attended a religious prayer meeting from March 13 to 15 at Markaz in Nizamuddin area in Delhi," according to an official release. "Among those who attended were some persons from Telangana."

Two of the six died at the Gandhi Hospital, one each in two private hospitals, and one each in Nizamabad and Gadwal towns, the statement said, without mentioning the time of their deaths.

The special teams under the collectors have identified the persons who came in contact with the deceased and they are shifted to the hospitals, it said.

Police and paramilitary personnel cordoned off a major area in Nizamuddin West in south Delhi on Monday and over 200 people have been kept in isolation in hospitals after several people who took part in a religious congregation there showed symptoms of coronavirus.

The Telagana government asked those who participated in the prayers to inform the authorities. It will conduct tests and offer treatment to them free of cost, according to the release.

The government also requested the people to alert if they come to know about those who participated in the prayers.

Earlier a separate government release said a person died of COVID-19 in Telangana, taking the toll to two and the total number touched 77 after six fresh cases were reported on Monday.

As many as 13 patients who underwent treatment for the virus were discharged on Monday, a media bulletin on COVID-19 issued by the state government said.

A techie, the first COVID-19 case in Telangana, has been discharged recently. The state now has 61 active cases, the bulletin said.

Chief Minister K Chandrashekar Rao had on Sunday said barring a 76-year-old person, who had other ailments, the other patients were doing well.

Rao had said 25,937 people were under surveillance and being watched by 5,746 teams and they would be out of watch after completing their mandated 14-day quarantine period. He had said all those who are under observation would be out of vigil by April 7 if there are no fresh suspected cases.

"From March 30, their time is nearing completion. After that, they do not need to be under any surveillance. By April 7, we will have a situation of zero... We pray God that we should not get new cases,"

Mumbai, Mar 9: The mayhem in domestic stock markets deepened with the BSE Sensex falling over 2,400 points and the Nifty50 trading below 10,400 points.

The plunge in the domestic indices was in line with the global markets on persistent fears of economic impact of the coronavirus epidemic.

Stocks of Reliance Industries registered the biggest fall in over 10 years as it fell to Rs 1,094.95 per share. At 1.34 p.m., it was trading at Rs 1,100, lower by Rs 170.05 or 13.39 per cent from its previous close. The stock fell most since October 2008.

The benchmark index of BSE Sensex was trading at 35,232.67 points, lower by 2,343.95 points or 6.24% from the previous close of 37,576.62 points. 

It had opened at the intra-day high of 36,950.20 and has so far touched a low of 35,109.18.

The Nifty50 on the National Stock Exchange was trading at 10,314.25 points, lower by 675.20 points or 6.14% from the previous close. 

It was a sell-off across sectors, led by financial, metal, energy and IT stocks - which weighed on the markets.

Further, crude oil prices also slumped around 30% on Monday as Organization of Petroleum Exporting Countries (OEPC) failed to agree on an output cut deal, eventually causing Saudi Arabia to cut its prices as it is likely to increase its production. Saudi Arabia's stance has already raised concerns of an all-out price war.

Brent crude futures are currently trading around $34 per barrel.

On Saturday, Saudi Arabia announced massive discounts to its official selling prices for April, and the nation is reportedly preparing to increase its production above the 10 million barrel per day mark, according to reports.

As per analysts, the oil market witnessed the worst price fall on Monday since the 1991 Gulf War.