In an interview with Free Press Journal Money, the Reliance Industries Director YP Trivedi explains how despite economic downturn the group will go ahead with its expansion plans.
How did the company become debt free much before March 2021?
This is because Rs 1,52,000 crore have been invested by Google, Facebook and others. In addition, the company could raise Rs 53,000 crore by issuing right shares. This helped the company to become debt free even before March 2021.
How RIL has roped in Google and Facebook both?
Google and Facebook for the first time have formally come together because of persuasion of our team. It is a great achievement for the country as so much of foreign investment has come. It also shows that people have faith in our economy.
How is the company pursuing its growth plans in lockdown?
RIL offered shares at Rs 1,257 about six weeks ago. Those who purchased in the offer, today the price is nearing almost Rs 2,000. Can you imagine we are making Rs 800 per share in such a short time on an investment of Rs 1,257?
What are Jio's prospects?
Jio will go further leaps and bounds. Dhirubhai was a visionary. When RIL had started Infocom I had asked him what is there in telecom. He had told me that time telecom and hydrocarbons will be as big as Reliance. Later the Infocom went to Anil Ambani. The day on which it was to be transferred I was for one day chairman of that company. Dhirubhai could see that time, now Mukesh has also got the same vision.
Chorus is rising for AatmaNirbha Bharat. Has the company already implemented it?
All the equipment for 5G was made locally with a research team. Masks and Covid kits were also done by our own people.