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Reliance Industries (RIL) had announced the largest and fastest fund-raise in the industry between April 22 and July 15. A sum of Rs 1.5 lakh crore was raised through a stake sale of about 33 per cent in its subsidiary, Jio Platforms, to 13 marque foreign investors.
Owing to some smart restructuring, RIL and Jio Platforms would not have to pay any taxes on the stake sales.
How did the company go about doing so? Did a fresh issue of shares benefit Jio Platforms?
BusinessLine's Anand Kalyanaraman gives us more details.
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