26: Why Reliance Industries is on a fundraising spree
Mark to Market
English - April 30, 2020 06:03 - 5 minutes - 5.42 MBBusiness News News market price finance podcast investing stock market entrepreneurship business business podcast money market share market entrepreneur Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Previous Episode: 25: The outlook for Reliance stock
Shares of Reliance Industries have appreciated by more than 60% from its lows in end March. A key reason for the optimism is Reliance’s deal with Facebook, which was announced last week. Facebook’s $5.7 billion investment in Reliance’s digital subsidiary, Jio Platforms Ltd is expected to offer some relief on Reliance’s debt front. Still, the company also said that its board will consider a rights issue. So why is Reliance raising the funds?