Reliance Jio | Pixr8 News

15Jul By PriyankaNo Comments

INDIA

End of Huawei’s 5G Journey in India? Reliance Jio Launch Made in India 5G solution

New Delhi, Jul 15, 2020: India's leading company Reliance Industries said that its telecom unit Jio has built a Made-in-India 5G solution that can be ready for field deployment next year and has teamed up with Google for developing affordable smartphones. Asserting Jio's move to make India free of 2G, RIL Chairman Mukesh Ambani emphasized on the need to accelerate the migration of 350 million Indians 2G phone users to an affordable smartphone, at a time when India stands at the doorsteps of the 5G era. At Reliance 43rd AGM, Mukesh Ambani said, "There are many feature phone users who are waiting to upgrade to a conventional smartphone, if only it was somehow more affordable. So, we have decided to address this challenge head-on. We believe we can design entry-level 4G or even 5G smart...

Google invests $4.5 billion for 7.7% stake in Jio platforms

15Jul By PriyankaNo Comments

FUNDING

Google invests $4.5 billion for 7.7% stake in Jio platforms

Mumbai 15th July 2020: Google acquired a 7.7 percent stake of India's leading online company Jio platforms for $4.5 billion, adding to a series of large U.S. investments into an India based online venture that has nearly 400 million users in India. The global search leader is acquiring 7.7% of the fast-growing internet unit for 337.4 billion rupees, Reliance Chairman Mukesh Ambani said in a Reliance AGM event. Google, whose Android software runs on most smartphones, will help Jio create an entry-level, affordable mobile device, he added. Google joins rival Facebook Inc., which recently invested $5.7 billion toward a 9% stake of Jio. Total 14 investment came in Reliance Jio in the last two months which includes chipmakers Intel Corp. and Qualcomm Inc etc. Jio is a highly prefe...

Qualcomm acquires 0.15% stake in Jio for $97 million

13Jul By AdityaNo Comments

ACQUISITION

Qualcomm acquires 0.15% stake in Jio for $97 million

Mumbai, 13th July 2020: Billionaire Mukesh Ambani's Reliance Industries said it has secured $97 million (Rs 730 crore) from wireless technology leader Qualcomm makes total funding since April that has crossed $15.7 billion (Rs 1.18 lakh crore). "Qualcomm Ventures' investment will translate into 0.15 percent equity stake in Jio Platforms on a fully diluted basis," the company said in a statement. With this round, Reliance Jio sold its 25.24 percent stake to companies like Facebook, Silver Lake, General Atlantic, Intel, etc. The company said the investment in Jio will deepen the ties with Qualcomm that will help Jio to rollout of advanced 5G infrastructure and services in India. Qualcomm is the world's leading wireless technology innovator and the driving force behind the develo...

22Jun By Press Trust of IndiaNo Comments

INDIA

Reliance Industries becomes first Indian firm to hit $150 bn market cap

Mumbai, 22nd June 2020: India based oil company Reliance Industries became the first Indian firm to hit a market valuation of $150 billion, helped by a continuous rally in its share price. In the morning trade, the company's market valuation jumped Rs 28,248.97 crore to Rs 11,43,667 crore ($150 billion) on the BSE. The heavyweight stock surged 2.53 percent to a record high of Rs 1,804.10 on the BSE. On the NSE, it rose by 2.54 per cent to an all-time high of Rs 1,804.20. Reliance Industries on Friday became the first Indian company to cross the Rs 11 trillion market valuation mark. Its market valuation crossed Rs 11 trillion in the previous session as its share price rallying over 6 per cent after chairman Mukesh Ambani announced that his oil-to-telecom conglomerate had bec...

TPG picks 0.93 pc stake in Jio Platforms for $600 Million

13Jun By PriyankaNo Comments

FUNDING

TPG picks 0.93 pc stake in Jio Platforms for $600 Million

New Delhi, Jun 13, 2020: Reliance Industries sold 0.93 percent stake in its digital unit Reliance Jio to global alternative asset firm TPG for $600 million (Rs 4,546.80 crore), taking the cumulative fundraising to over $13.49 billion (Rs 1.02 lakh crore) by selling nearly 22% stake that will help pare debt at the oil-to-telecom conglomerate. "TPG will invest $600 million (Rs 4,546.80 crore) in Jio Platforms at an enterprise value of $65 billion (Rs 5.16 lakh crore)," the company said in a statement. The investment will translate into a 0.93 per cent equity stake in Jio Platforms on a fully diluted basis for TPG. "With this investment, Jio Platforms has raised $13.49 billion (Rs 102,432.45 crore) from leading global technology investors including Facebook, Silver Lake, Vista Equity...

Silver Lake & Co acquire additional 0.9% Stake in Reliance Jio

7Jun By PriyankaNo Comments

ACQUISITION

Silver Lake & Co acquire additional 0.9% Stake in Reliance Jio

New Delhi: Reliance Industries said private equity fund Silver Lake and its co-investors invest an additional $601.40 million (Rs 4,546 crore) in digital unit Jio Platforms. The investment comes on top of the $750 million Silver Lake committed to Jio Platforms earlier this month. With this investment, Silver Lake's stake in Reliance Jio raises 2.08 percent from earlier 1.15 percent. Reliance has now sold nearly 20 percent of Jio Platforms to investors, including Facebook, KKR, UAE based fund, etc. securing around $12 billion in less than six weeks. The deal controlled by India's richest man Mukesh Ambani, including a $7 billion share sale, with plans to eliminate $21.4 billion of net debt by the end of the year. "The investment momentum behind Jio validates a compelling bu...

Abu Dhabi based Mubadala acquire 1.85% stake in Reliance Jio

5Jun By AnkitaNo Comments

ACQUISITION

Abu Dhabi based Mubadala acquire 1.85% stake in Reliance Jio

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...

Abu Dhabi state fund in talks to invest $1 bn in Jio Platforms: Report

29May By reutersNo Comments

FUNDING

Abu Dhabi state fund in talks to invest $1 bn in Jio Platforms: Report

Abu Dhabi state fund Mubadala Investment Company is in talks to invest about $1 billion in Reliance Industries' digital unit Jio platforms, three sources said on Thursday. Jio Platforms, which houses music and movie apps as well a Reliance's telecoms venture Jio Infocomm, has secured a massive $10 billion from investors including Facebook Inc within a month. Reliance did not immediately respond to a request for comment. "Clearly Jio's platform is attracting a wide range of world-class investors, given its enormous potential to serve one of the world's largest marketplaces," Mubadala said in an email to Reuters. Indian telecom company Reliance Jio recently done five Investment deals in four weeks that will inject a combined $10.5 billion in the oil-to-telecom conglomerate to hel...

Airtel acquires 10 percent stake in AI startup Voicezen

25May By AdityaNo Comments

ACQUISITION

Airtel acquires 10 percent stake in AI startup Voicezen

Indian telecom company Bharti Airtel acquires 10 percent stake in Gurgaon-based start-up Voicezen, which focusses on conversational artificial intelligence technologies, in an all-cash deal, the private operator said on Thursday. The stake purchase will give Bharti Airtel preferred access to Voicezen’s technologies, which can be deployed across its customer touch points in multiple languages, Airtel said in a statement without disclosing the amount it paid for buying the stake. The acquisition has been made by the company under its fast expanding Airtel Startup Accelerator Programme, the company noted. “AI is a big focus area for Airtel given the deep positive impact the technology can have in transforming customer experience. Voicezen has built some promising products that are ve...

Reliance Jio 5th deal, sells 2.32 pc for $1.5 billion to KKR

22May By AnkitaNo Comments

ACQUISITION

Reliance Jio 5th deal, sells 2.32 pc for $1.5 billion to KKR

Reliance Industries announced the sale of a 2.32 percent stake in its digital unit to US private equity giant KKR for around $1.5 billion (Rs 11,367 crore), the fifth deal in four weeks that will inject a combined $10.5 billion in the oil-to-telecom conglomerate to help it pare debt. This is KKR's largest investment in Asia. "This transaction values Jio Platforms enterprise value of $65 billion (Rs 5.16 lakh crore). This is KKR's largest investment in Asia and will translate into a 2.32 percent equity stake in Jio Platforms on a fully diluted basis," the company said in a statement. The deal follows with Facebook picking up a 9.99 percent stake in the firm for $5.7 billion. Within days of that deal, Silver Lake, the world’s largest tech investor bought a 1.15 percent stake in Jio ...

18May By PriyankaNo Comments

FUNDING

Reliance Jio funding: Facebook, Silver Lake & others Invests $8.8 billion

India's leading telecom company Reliance Jio announced another funding round from US-based equity firm General Atlantic. General Atlantic invests $873 Million in Reliance Jio for 1.34% stake, the company said in a statement. This is the fourth deal of Investment in Reliance Jio in less than four weeks that will inject a combined $8.8 billion in the oil-to-telecom conglomerate to help it clear its debt. The Investment puts Reliance Jio's total value around $68 billion. According to the Pixr8 News data, the company has raised a total of $13.5 billion in funding over 9 rounds. The recent deal of General Atlantic follows Facebook picking up a 9.99 percent stake in the firm for $5.7 billion. Within days of that deal, Silver Lake, the world's largest tech investor bought a 1.15...

Vista Equity Partners Acquire 2.32% stake in Jio for $1.5 billion

8May By AdityaNo Comments

ACQUISITION

Vista Equity Partners Acquire 2.32% stake in Jio for $1.5 billion

New Delhi, May 8, 2020: US-based private equity firm Vista Equity Partners will buy a 2.32 percent stake in billionaire Mukesh Ambani's digital unit, Jio Platforms, for $1.5 billion (Rs 11,367 crore), the company announced today. 'This investment values Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore,' the company said in a statement. Vista's investment will translate into a 2.32 per cent equity stake on a fully diluted basis, making Vista the largest investor in Jio Platforms behind Reliance Industries and Facebook. Facebook had bought 9.99 per cent stake in Jio Platforms - the firm that houses India's youngest but biggest telecom firm, for Rs 43,574 crore. That deal was followed by Silver Lake - the world's largest tech invest...