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    Deleveraging The Empire

    Reliance Industries has kicked off the process of reducing debt it took to fund telecom and petrochemical businesses
    by Nevin John Aug 19, 2019 5 minutes

    Billionaire Mukesh Ambani's Reliance Industries (RIL) has been on a spending spree over the last five years. It built telecom giant Reliance Jio and expanded the petrochemicals business by constructing the world's largest refinery off gas cracker (ROGC), its downstream units and a paraxylene (PX) plant. Besides these, RIL also invested heavily in Reliance Retail, which has grown to become the country's largest retailer by revenue and profitability it posted a revenue of Rs 1.3 lakh crore in the last financial year and a profit before interest and tax (PBIT) of Rs 5,546 crore.

    On August 11, RIL Chairman Mukesh Ambani told shareholders at the annual general meeting (AGM) that the company has invested Rs 5.4 lakh crore in the last five years. Of this, nearly Rs 3.5 lakh crore went into building Jio and its digital infrastructure with

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