Mukesh Ambani has declared that Reliance Industries (RIL) has become debt-free and this comes nearly a year ahead of the promised deadline to shareholders after raising Rs 1.68 lakh crore in just over 2 months through a combination of stake sales and a rights issue,

The company in 9 weeks got 10 investors on board and struck 11 deals.

In his statement, the RIL chairman and managing director, said, "Today I am both delighted and humbled to announce that we have fulfilled our promise to the shareholders by making Reliance net debt-free much before our original schedule of 31st March 2021. Exceeding the expectations of our shareholders and all other stakeholders, again and yet again, is in the very DNA of Reliance."

Reliance Industries' shares soared to new highs on the back of this announcement and the company's market capitalisation surged over Rs 11 lakh crore.

The spate of deals in Jio Platforms has netted Reliance over $15 billion, the biggest pre-IPO single-round equity fundraising ever. CNBC-TV18’s Prashant Nair gives more details.

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