Anil Ambani the younger brother of Asias richest man Mukesh Ambani has witnessed a remarkable turnaround of fortunes of late especially in the current financial year with many of his Reliance Group companies now debt-free and making significant profits. Anil Ambanis sons Jai Anmol Ambani and Jai Anshul Ambani have set the Reliance Group on the path of revival with the groups companies recently acquiring some major contracts including Japanese firm Nippon making a substantial investment in Reliance Capital. The impact of the Nippon deal was quickly visible as the debts of several Reliance Group companies began to decrease but the group is still facing a mountain of loans which it needs to settle in order to avoid bankruptcy. How Reliance Infra and Reliance Power became debt-free? Last year Anil Ambani raised Rs 17600 crore to further reduce the debt burden of his companies. According to media reports only two listed companies of Anil Ambanis Reliance Group Reliance Infra and Reliance Power have managed to become completely debt-free while most of groups other firms still owe substantial amounts to creditors. Both Reliance Infra and Reliance Power along with their subsidiaries started repaying loans in September last year and are now debt-free as per reports. Anil Ambani began investing funds into both these companies in August 2024 and funds were raised through Foreign Convertible Currency Bonds (FCCB) and Preferential Issue. How Anil Ambani raised Rs 17600 crore? Together Reliance Infra and Reliance Power issued a preferential equity issue worth Rs 4500 crore apart from raising Rs 7100 crore from Varde Partners via FCCB. Additionally the two firms also raised Rs 3000 crore each Qualified Institutional Placement (QIP). Thus Anil Ambani revived Reliance Infra and Reliance Power by raising Rs 17600 crore. Meanwhile the combined market cap of Reliance Power and Reliance Infra reached Rs 33000 crore on Thursday even as as shares of three Reliance Group companies witnessed a strong uptick last week. Recently Reliance Group acquired a Rs 2000 crore contract for a setting up a solar project in Bhutan while Reliance Defence-- a subsidiary of Anil Ambani-led Reliance Infrastructure Limited-- has signed a deal with German arms maker Rheinmetall AG to manufacture ammunition.