While the debt looming on the head of Reliance Telecommunications has been one of the biggest concerns for the investors at Rcom, but the Chairman of the company, Anil Ambani has recently assured that it will be a debt-free company in a three years time at the sixth annual general meeting of the company.

It is to be mentioned here that junior Ambani was addressing the packed hall of shareholders of the company and said that with a combination of strategic and financial initiatives would result in a large cash infusion and significantly bring down debt levels in the next few quarters.

Moreover, Ambani also said that the planned move surely has a potential to make the company debt free in a period of three years.

It may be noted here that the company currently has a total debt of around Rs 33,000 crore (Rs 330 billion) on its head but the company expects to take it down. As the stake sales and the Tower IPO is on the cards, currently the debt of the company is almost four times as compared to the earnings before interest and tax.