mukesh amabani | Pixr8 News

India's leading Oil company Reliance Industries said that its telecom unit Reliance Jio raises $1.2 billion from Abu Dhabi state fund Mubadala Investment Co for 1.85% stake. This is the sixth funding of Reliance Jio in six weeks. Reliance has now sold a combined 19% interest in Jio Platforms. With this sixth funding including a 9.99% stake sale to Facebook Inc for $5.7 billion, Reliance will clear its 86 percent debt. Pixr8 News earlier announce that Reliance jio is in talks with Abu Dhabi based fund to further dilute its equity to raise more funds. All other funding details of Reliance Jio can find here. Mubadala owns electronic chip manufacturing company Global Foundries and has stake in several technology companies like AMD. "We have seen how Jio has already transformed...

After news broke of Asia's richest man Mukesh Ambani entry into Indian e-commerce space against giants like Amazon and Flipkart, Infosys former CFO T V Mohandas Pai Saturday said the foray of Mukesh Ambani's Reliance into India's e-commerce space would allay fears of digital colonisation and dramatically lower costs, immensely benefiting the consumers. "One thing is certain that consumers and India will be a winner, and in online retail, the fear of becoming a digital colony will recede with the entry of a formidable Indian entity, Reliance," he told Pixr8 in an interview. Reliance seems to be creating next generation retailnetwork which has the potential to radically change the dynamics of retail in a fast growing economy, Pai said, adding that "it would dramatically lower costs, r...

Tag: mukesh amabani

Abu Dhabi based Mubadala acquire 1.85% stake in Reliance Jio

Asia’s Richest Man Mukesh Ambani Entry in E-commerce Space Will Reduce the Digital Space: Infosys Former CFO