Investment boost: RIL hits $150 billion in Mcap to enter top 60 in world

By: |
June 20, 2020 2:20 AM

Along with the rights issue of Rs 53,124.20 crore, the company mopped up a colossal Rs 1.69 lakh crore in less than two months.

The stock of RIL, which has surged two-fold from its March lows, added another 6.2% on Friday, taking its market valuation to Rs 11.5 lakh crore — that is about two times of its FY20 revenue.A clutch of private equity giants and Facebook invested Rs 1.16 lakh crore in Jio for 24.7% stake.

With investors queueing up for a slice of its digital services platform — Jio Platforms, the market valuation of the country’s largest company, Reliance Industries (RIL) hit yet another milestone of $150 billion on Friday. A clutch of private equity giants and Facebook invested Rs 1.16 lakh crore in Jio for 24.7% stake.

Along with the rights issue of Rs 53,124.20 crore, the company mopped up a colossal Rs 1.69 lakh crore in less than two months. There are only 60 companies in the world as of Friday with a minimum market capitalisation of $150 billion, Bloomberg data showed.

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