Reliance Jio funding

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 pref...

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 Equit...

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 b...

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 transforme...

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 he...

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...