Mukesh Ambani needs a loan of ₹255000000000, why did Asia’s richest man need so much money?
Mukesh Ambani Debt: Reliance Industries owner Mukesh Ambani is going to take a big loan. Asia’s richest man Mukesh Ambani needs a loan of 3 billion dollars. For this loan, he is talking to about half the banks. Reliance Industries needs this loan to reduce its debt burden. That is, Reliance is preparing to take a big loan to reduce the debt.
According to a Bloomberg report, Mukesh Ambani is planning to reduce his company’s debt in the year 2025. To repay the loan, he has planned a new loan. Actually, the repayment deadline of many loans is ending in the year 2025. Mukesh Ambani wants to repay those loans, which he has to pay by next year.
3 billion dollar loan needed
To pay these loans, the company needs 3 billion dollars i.e. about Rs 25500 crore, for which he is planning to take a new loan. For this, Reliance Industries is in talks with half a dozen banks. Let us tell you that Reliance Industries already has a debt of 2.9 billion dollars. Earlier in the year 2023 also, the company had taken a loan of 8 billion dollars. Reliance Jio and its other subsidiaries had financed these loans together by about 55 banks.
Company’s financial position is strong
Let us tell you that the last six months have been difficult for Reliance shares. There has been a decline in Reliance shares. The impact of the company’s quarterly results and market cap has been seen on the shares. In the last six months, the company’s shares have seen a decline of up to 12 percent. However, the company’s position is very strong. Moody’s Rating has maintained Reliance’s credit rating at Baa2. The company’s financial position is strong. The company is fully capable of repaying its debts.
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