Cash-rich Reliance eyes $2.7 bn in fresh forex loans to refinance high cost debt
MUMBAI: The cash-rich Reliance Industries, which also is one of the biggest forex loan borrowers in the country, is set to tap the foreign debt market to raise USD 2.7 billion to refinance its existing high-cost debt. As of the June 2018 quarter, the Mukesh Ambani-led company had an outstanding debt of Rs 2,42,116 crore, which […]
Reliance Jio acquires Saavn, creates $1-billion music entity
Reliance Industries (RIL) on Friday announced a strategic merger of its digital music service JioMusic with music over-the-top platform Saavn which will see RIL acquiring a 75-80 per cent stake in the merged entity. The company said that the combined entity is valued at over $1 billion, with JioMusic’s implied valuation at $670 million. “The […]
Mukesh Ambani says Reliance to invest Rs2,500 crore in Assam, create 80,000 jobs
GUWAHATI: Reliance Industries chairman Mukesh Ambani on Saturday announced an investment of Rs2,500 crore in Assam in various sectors, including retail, petroleum, telecom, tourism and sports, creating jobs for at least 80,000 people over the next three years. “Today I am happy to announce five commitments for Assam over the next three years. Reliance will […]
