Anil Ambani, president of the debt-laden Reliance Group, on Tuesday tried to dispel investor concerns regarding the group's debt service capacity.

The confirmation came after the collective capitalization of their firms fell to a record low of ? 20,691 crore on Monday, with five of the group's entities on the list touching their 52-week low.

"As of April 1, 2018, lenders of all categories have provided zero net additional liquidity or debt to any Reliance Group entity, yet the group has made aggregate debt service payments of more than $ 35,000 million. Rupees over the period of 14 months, "said Mr. Ambani added that Reliance Group was fully committed to meet all future obligations of debt service in a timely manner, through additional asset monetization plans that are already in place. in various stages of implementation.

Payments include capital refunds of ? 24,800 crore and interest payments of ? 10,600 crore.

Mr. Ambani said that during the last few weeks, the unjustified rumor campaign, the speculation and the hammering of all the shares of Reliance Group companies "has caused serious damage to all our shareholders".

Stocks go up
On Tuesday, after the conference call, most of Reliance Group's shares ended in green, except Reliance Communications and Reliance Naval and Engineering. However, the companies could not fully recover the losses made on Monday.

"These payments have been made against insurmountable odds and the most challenging financial environment that has been seen in the country in decades. To aggravate the issues, the regulatory bodies and the courts have not issued any final adjudication order in claims totaling more than ? 30,000 million years due that are due for more than 5 to 10 years to several group companies, especially Reliance Infrastructure Ltd., Reliance Power Ltd. and its affiliates. The final decisions have only been delayed excessively and repeatedly for one reason or another, "said Mr. Ambani.

When asked for comments, Sanjiv Bhasin, EVP markets and corporate affairs, IIFL Securities, told The Hindu: "I think it's too late for [Mr.] Anil Ambani, he has fallen into a debt trap. money or proportional assets to cover the debt of the Reliance Group The markets punish anyone who is closer to breaching He could not leave bad assets on time Banks have become very strong and there is no proliferation of loans and a constant equalization of the loans ".

Mr. Ambani lamented the continued total apathy and lack of any kind of support from the financial system which, he said, ultimately only significantly harmed the interests of the lenders, as well as all other stakeholders. He emphasized that the Trust Group had demonstrated its good faith in a manner not as uncertain as the previous one.

Expressing concern for the seven million retail shareholders of Reliance Group, Mr. Ambani said it was heartening to him personally that during the past 12 months, retail participation in all companies remained without erosion and consistency, confirming his belief of the strong support and good wishes of All the shareholders of the Reliance Group.

Mr. Ambani plans to transform the Group to be lightweight, with a minimum debt and a higher return on capital to improve the value for all Reliance Group shareholders.