Reliance Industries Limited (RIL) and Jio Platforms Limited, India's leading digital services platform, on Friday announced the sale of a 2.32 per cent stake in its digital unit to US private equity giant KKR for Rs 11,367 crore, the fifth deal in four weeks that will inject a combined Rs 78,562 crore in the oil-to-telecom conglomerate to help it pare debt.
The telecom unit of Reliance Industries Ltd (RIL) Reliance Jio has sold a 1.34 per cent to US-based private equity firm General Atlantic for Rs 6598.38 crore.
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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.
Reliance Industries Limited on Friday informed the BSE Sensex that Vista Equity Partners will invest ₹ 11,367 crore into Jio Platforms. With this Jio Platforms has now raised ₹ 60,596.37 crore from leading technology investors in less than three weeks.
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Facebook's over Rs 43,000 crore investment in Jio Platforms would help Reliance Industries (RIL) in its movement towards becoming a zero net debt company by March 2021, a Credit Suisse report said on Monday.
Facebook Inc's USD 5.7 billion investment in Jio Platforms, subsidiary of Reliance Industries Ltd (RIL), will help to monetise the digital platforms of both companies and aid in deleveraging of RIL's balance sheet, Fitch Ratings said on Thursday.
Reliance Industries' telecom arm Jio and social media major Facebook will continue to oppose each other over internet calls and messaging services despite the Rs 43,574-crore investment deal signed between the two companies.
Mark Zuckerberg-run Facebook has interestingly chosen India to begin its global ecommerce journey with investing $5.7 billion (approx. Rs 43,574 crore) in Reliance Jio, sounding the bugle to take on ecommerce behemoth Amazon and Walmart in the long run.
Shares of Reliance Industries on Wednesday jumped over 10 per cent after Facebook announced an investment of USD 5.7 billion (Rs 43,574 crore) to buy a 10 per cent stake in Jio Platforms.
Mukesh Ambani's Reliance Industries Ltd and Mark Zuckerberg-founded Facebook on Wednesday announced that the US tech giant will buy a 9.99 per cent stake for $5.7 billion (Rs 43,574 crore) in India's oil-retail-telecom conglomerate Reliance Industries Limited (RIL) led Jio Platforms.
Jio and Facebook have a signed a deal that will help both the companies and users in some way
Social networking site Facebook on Wednesday announced that it has bought a 9.99 percent stake in Mukesh Ambani’s digital operation Reliance Jio, for Rs 43,574 crore, in a deal that puts the pre-money enterprise value of Jio Platforms at Rs 4.62 lakh crore.
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Telecom Regulatory Authority of India (TRAI) has also sought details of the steps being taken to ensure availability of uninterrupted telecom services to such customers on a "priority basis".
Social media major Facebook is reportedly planning to buy 10 per cent stake in the country's biggest telecom company Reliance Jio.
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