Namaz should be offered in mosques, not on roads: Haryana CM on Gurugram incident

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.

Patna, Jan 25: JD Women's College in Patna has issued a direction to the students to follow the prescribed dress code on the campus while stating that wearing a 'burqa' in college is prohibited.

"All students have to come to college in the prescribed dress code, every day except on Saturday. Students are prohibited from wearing 'burqa' in college", reads a notice signed by the Principal and Proctor of the college.

The college administration has also imposed a fine of Rs. 250 for violation of the norm.

Shimla, Apr 19: A man, who had recovered from the novel coronavirus, was again found suffering from the infection in Himachal Pradesh, officials said.

The man, a Tablighi Jamaat member, tested positive for the infection on Saturday within a week of his two reports coming out negative, they said.

Residents of different places in Mandi district, the man along with two other Jamaatis had been staying in a mosque of Nakroh village in Una'a Amb tehsil and all tested positive on April 2.

They were admitted to Tanda's Dr. Rajendra Prasad Government Medical College (RPGMC) in Kangra district on April 3.

As per the available information, they had tested negative for the first time on April 10 and they were declared as cured as per protocol after they tested negative for the second time on April 12.

Subsequently they had been discharged from the RPGMC and were kept in institutional quarantine.

However, with the man again testing positive, the total number of active cases in the hill state has increased to 23 out of the total 40 positive cases.

Four persons have been shifted to a private hospital outside the state. Eleven have recovered while two others have died.

A total of 16 confirmed cases were found in Una and health department statistics now shows 14 active cases and two cured.

Officials said 11 patients — three each from Chamba, Kangra, and Solan districts and two from Una district — have recovered.