Reliance Industries Ltd (RIL) is going through things in a very structured way, not just in its businesses, but also to strengthen its balance sheet, Jal Irani, Senior Vice President, Edelweiss Financial Services, told CNBC-TV18 in an interview.

"They are systematically bringing down debt," Irani said.

Reliance Industries today said that private equity firm Silver Lake will invest Rs 5,655.75 crore in Reliance Jio Platforms, giving the technology subsidiary an equity value of Rs 4.9 lakh crore.

The week before last Facebook said it would invest Rs 43,574 crore in Jio Platforms for a 9.99 percent stake.

"What they are doing is getting strategic partners in the key businesses, in the Jio Platforms business – and they have categorically said that the Saudi Aramco due diligence is on. So this is a part of a very structured bigger game plan to bring in strategic partners, to reduce the debt, trigger value release as well in their business, in difficult times, doing fairly healthy and coming out stronger," he said.

Irani said that the plan was well thought out and was also being executed well.

Disclosure:

RIL, the promoter of Reliance Jio, also controls Network18, the parent company of CNBCTV18.com.

First Published:May 4, 2020 10:25 AM IST