₹53,124.20 crore through a rights issue of its shares, which was subscribed 1.59 times. Along with its stake sale to BP in the petro-retail JV for ₹7000 crore, RIL has raised funds in excess of Rs1.75 lakh crore.Bernstein's analysts added that looking at the balance sheet, RIL has significantly improved its financial position following these transactions and RIL's net debt to equity will fall significantly from 0.51x in FY20 to 0.06x in FY21 which is the lowest in almost a decade.Given the $15 billion Aramco deal and free cash flow outlook in the next several years, net debt to equity could continue to fall beyond FY21, Bernstein Research said.Reliance is in talks with Aramco to sell a 20% stake in its oil-to-chemical business for $15.