Reliance Jio may have gotten rid of debt, but remains capital heavy
Jio’s net debt to equity ratio of about 2.6 times at the end of the Sep quarter will fall to 0.3
But the company’s total capital employed remains high at about ₹2.4 trillion
Reliance Industries Ltd (RIL) said it will take over debt worth ₹1.08 trillion from its telecom subsidiary, in exchange for an equity investment of the same amount. The investment in Reliance Jio Infocomm Ltd will come through the newly created subsidiary of the parent company, which will reportedly be called Jio Platforms Ltd.
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