MUMBAI: Reliance Industries Ltd is likely to lean on its promoter for a large dose of capital infusion through a rights issue to help it achieve zero net debt status by the March 2021 deadline, given the deal with Saudi Aramco could take longer to close.
With a net debt of ₹1.53 trillion on its books at the end of December and the deadline to be net debt free drawing close, RIL on Monday said it was considering raising funds by selling shares to its existing investors through a rights issue.
As part of its plan to become a zero net debt company, RIL, last week, bagged a massive investment of ₹43,574 crore from Facebook Inc in Jio Platform.