CLSA pegs 20% decline in RIL's net debt by this quarter-end
Updated : April 23, 2020 06:08 PM IST
Facebook's investment along with British Petroleum (BP) deal will bring down RIL's net debt by approximately 20 percent, said CLSA in its report.
As a part of its investment, Facebook will buyback RIL's optionally convertible preference shares (OCPS) while the remaining will directly go as cash to the company.
It further noted that the implied valuation is slightly below brokerage's valuation of Jio which should help in positioning Jio as a technology company rather than just a telco.