Opinion | The Reliance game plan – Part II4 min read . Updated: 23 Jul 2020, 10:47 PM IST
- A PE play in the listed space, and not a risk free investment, it is being made out to be
I had often wondered why Reliance is converting its debt to equity? In an invitation column for Business Standard soon after the Facebook investment, I had argued that is an anti thesis to its DNA which, from 1977, has followed a path of growth predominantly through high debt and financial engineering. Why? Because it was confident of free cash flows to sustain debt repayments on a sustainable basis, and in the process created enormous wealth for its shareholders through a leveraged play on the oil value chain.
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