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...