Mukesh Ambani-led Reliance Industries closes $7 billion rights issue, India's largest ever
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Mukesh Ambani-led Reliance Industries on Wednesday closed a $7 billion rights issue, India's largest ever, luring buyers in with a rare deferred payment offer.Proceeds from the issue, also ranked as one of the world's biggest by a non-financial company based on Dealogic data, will aid Reliance's plan to slash net debt to zero this year. The issue was subscribed about 1.6 times in a vote of confidence.