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.
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Inna lillaahi wa inna ilaihi Rajioon.Visited him on Eid day,was very cheerful.
He was a great visionary known for his clean image, integrity and his concern for the society and the Community.
May Allah grant strength to his family and friends to over come this moment of grief
May Allah Grant him Jannat
Aameen........
Real Wonderful Man he was. RIP
As a politician he had sacrificed his life for the people and party. But his party leaders sacrificed him for their selfish gains.
ಲೋಕಾರ್ಪಣೆಗೊಳ್ಳುವ ಮುನ್ನವೇ ಅಲ್ಲಾಹನ ಕರೆಗೆ ಓಗೊಟ್ಟು ಇಂದು ನಮ್ಮನ್ನಗಲಿದ ಕರ್ನಾಟಕ ರಾಜ್ಯ ಕಂಡ ಸರಳ, ಸಜ್ಜನ ಮತ್ತು ನೇರ ನಡೆ ನುಡಿಯ ಪ್ರಾಮಾಣಿಕ ಮುಸ್ಲಿಮ್ ಸಮುದಾಯದ ಹೆಮ್ಮೆಯ ರಾಜಕಾರಣಿ......
ಇವರ ಮರಣವು ಸಮಾಜಕ್ಕೆ ತುಂಬಲಾರದ ನಷ್ಟ ಇವರು ಶಿಕ್ಷಣದಲ್ಲಿ ಯಾವ ರೀತಿ ಕ್ರಾಂತಿಯ ಅಲೆ ಎಬ್ಬಿಸಿದ್ದರೆಂದರೆ ದಕ್ಷಿಣ ಕನ್ನಡ ಜಿಲ್ಲೆಯಲ್ಲಿ ಮಾತ್ರವಲ್ಲ ಕರ್ನಾಟಕ ರಾಜ್ಯದಲ್ಲಿ ಶಿಕ್ಷಣದ ಅಲೆಯನ್ನೇ ಎಬ್ಬಿಸಿ , ಹಗಲಲ್ಲಿ ಖಾಲಿಯಾಗಿರುವ ಮದರಸಾಗಳಲ್ಲಿ ಆಂಗ್ಲ ಮಾಧ್ಯಮ ತರಗತಿಯನ್ನು ಪ್ರಾರಂಭಿಸಲು ಹೆಚ್ಚು ಒತ್ತು ನೀಡಿ , ಅಲ್ಪಸಂಖ್ಯಾತ ಸಮುದಾಯದಲ್ಲಿ ಶಿಕ್ಷಣದ ಕ್ರಾಂತಿ ಮೂಡಿಸಿದವರು. ಶಿಕ್ಷಣ ಸಚಿವರು ಆಗುವ ಮೊದಲು ಮತ್ತು ನಂತರವೂ ತನ್ನ ಜೀವನವನ್ನೇ ಈ ಸಮಾಜದ ಶಿಕ್ಷಣದ ಸಬಲೀಕರಣಕ್ಕಾಗಿ ಒತ್ತೆ ಇಟ್ಟ ಸರಳ , ಸಜ್ಜನ, ಪ್ರಾಮಾಣಿಕ ನಾಯಕ ..ಇವರ ಅಗಲುವಿಕೆಗೆ ಇಂದು ಬೆಳಗ್ಗೆ ಎಸ್.ಡಿ.ಪಿ.ಐ. ಜಿಲ್ಲಾ ಕಛೇರಿಯಲ್ಲಿ ಜಿಲ್ಲಾ ಸಮಿತಿ ಸಭೆ ಕರೆದು ಸಭೆಯಲ್ಲಿ ತೀವ್ರ ಸಂತಾಪ ಸೂಚಿಸುತ್ತಾ , ಸರ್ವಶಕ್ತನು ಅವರ ಸೇವೆಯನ್ನು ಸ್ವೀಕರಿಸಲಿ ಮತ್ತು ಇವರ ರಾಜಕೀಯ ಮತ್ತು ಸಾಮಾಜಿಕ ಜೀವನವು ಜನಪ್ರತಿನಿಧಿಗಳಿಗೆ ಮಾದರಿಯಾಗಲಿ .
تَمَزُّق
Allah yarhemuhu
RIP. He was anyway inactive in politics for a long time. But his departure from the active politics was a tragedy. We should not forgive Poojary, Moily, Oscar for cheating this rare politician.
ಮುತ್ಸದ್ದಿ, ಹಿರಿಯ ರಾಜಕಾರಣಿ, ಜಾತ್ಯಾತೀತ ಸಿದ್ದಾಂತದ ಪ್ರಬಲ ಪ್ರತಿಪಾದಕ ಬಿ ಎ ಮೊಯಿದ್ದೀನ್ ರವರ ನಿಧನ ದುಃಖಕರ. ಜಾತ್ಯಾತೀತತೆ, ಪ್ರಾಮಾಣಿಕತೆ, ಸರಳತೆಗಳು ರಾಜಕಾರಣದಲ್ಲಿ, ಸಮಾಜದಲ್ಲಿ ನಿಧಾನಕ್ಕೆ ಮರೆಯಾಗುತ್ತಿರುವ ಕಾಲಘಟ್ಟದಲ್ಲಿ ಒಂದು ಸಂಕೇತದಂತೆ ನಮ್ಮ ನಡುವೆ ಬದುಕಿದ್ದ ಶ್ರೀಯುತರ ನಿಧನ ನಿಜಕ್ಕೂ ಸಮಾಜಕ್ಕಾದ ಬಹುದೊಡ್ಡ ನಷ್ಟ.
ಓರ್ವ ಉದಾರವಾದಿ ಮುಸಲ್ಮಾನರಾಗಿದ್ದ ಮೊಯಿದ್ದೀನ್ ರವರು ಇತ್ತೀಚೆಗೆ ಯುವಜನರು ಹೆಚ್ಚು ಹೆಚ್ಚು ಮತೀಯವಾದದತ್ತ ಆಕರ್ಷಿತರಾಗುತ್ತಿರುವುದರ ಕುರಿತು ಆತಂಕಿತರಾಗಿದ್ದರು. ಶಿಕ್ಷಣಕ್ಕೆ ಅಪಾರ ಮಹತ್ವ ನೀಡುತ್ತಿದ್ದ ಅವರು ಶೈಕ್ಷಣಿಕವಾಗಿ ಹಿಂದುಳಿದಿದ್ದ ಬ್ಯಾರಿ ಸಮುದಾಯ ಶಿಕ್ಷಣದಲ್ಲಿ ಮುಂದಕ್ಕೆ ಬರಬೇಕು ಎಂಬ ತುಡಿತ ಹೊಂದಿದ್ದರು. ಆ ಕುರಿತು ಪ್ರಾಮಾಣಿಕವಾಗಿ ತನ್ನ ಕೊಡುಗೆ ನೀಡಿದ್ದರು.
dyfi ಸಂಘಟನೆಯ ಹಿತೈಷಿಯಾಗಿ ಯುವಜನ ಚಳುವಳಿಯನ್ನು ಪ್ರೋತ್ಸಾಹಿಸುತ್ತಿದ್ದ ಬಿ ಎ ಮೊಯಿದ್ದೀನ್ ಅವರ ಅಗಲಿಕಗೆ ಡಿವೈಎಫ್ಐ ಕರ್ನಾಟಕ ರಾಜ್ಯ ಸಮಿತಿ ಭಾವಪೂರ್ಣ ಸಂತಾಪ ಸಲ್ಲಿಸುತ್ತದೆ .
Rest in peace. He passed away today peacefully. But the release of his autobiography will kill three more giants from coastal Karnataka
A rare statesman indeed. Probably, he was the only non-corrupt politician from coastal Karnataka. Rest in peace
Shocking news. May allah grant him jannah
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