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Home / Business News / 12 investments in 11 weeks: How Jio Platforms raised Rs 117,588.45 crore

12 investments in 11 weeks: How Jio Platforms raised Rs 117,588.45 crore

Intel Capital is among the firms, including Facebook Inc and KKR, that have recently invested in Jio Platforms, taking the total investment amount to Rs 117,588.45 crore.

business Updated: Jul 03, 2020 14:25 IST
hindustantimes.com | Edited by Meenakshi Ray
hindustantimes.com | Edited by Meenakshi Ray
Hindustan Times, New Delhi
This is the twelfth investment in Jio Platforms within eleven weeks since April 22, 2020.
This is the twelfth investment in Jio Platforms within eleven weeks since April 22, 2020.(REUTERS)

Intel Corp’s investment arm will pay some Rs 1,894.50 crore for a small stake in Reliance Industries Ltd’s digital unit Jio Platforms, in the latest share sales that have helped Mukesh Ambani’s oil-to-retail conglomerate pare its debt.

Reliance said in a statement Intel Capital will invest the amount in Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore. Its investment will translate into a 0.39% equity stake in Jio Platforms on a fully diluted basis.

Intel Capital is among the firms, including Facebook Inc and KKR, that have recently invested in Jio Platforms, taking the total investment amount to Rs 117,588.45 crore.

This is the twelfth investment in Jio Platforms within eleven weeks since April 22, 2020.

Here’s a list of other companies that have invested in Jio Platforms:

Facebook: The Mark Zuckerberg-led social media giant invested Rs 43,574 crore in Jio Platforms for a 9.9% stake in the company on. It was announced on April 22.

Silver Lake: The American private equity firm bought about 1.15% stake in Jio Platforms for Rs 5,655.75 crore (about $746.8 million) in Jio Platforms on May 4, giving it a valuation of $65 billion, a 12.5% premium to the value implied by the Facebook investment.

Vista: Vista Equity Partners invested Rs 11,367 crore in Jio Platform for a 2.3% stake in RIL’s digital unit. The US-based firm’s investment on May 8 gave Jio an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore.

General Atlantic: General Atlantic had agreed to take a 1.3% stake to set an enterprise value of Rs 5.16 trillion for Jio Platforms on May 17.

KKR: On May 22, US equity firm KKR invested Rs 11,367 crore for a 2.32% stake in Jio Platforms, in the fifth major investment announced in Mukesh Ambani’s oil-retail-to-telecom conglomerate in four weeks. In KKR’s largest investment in Asia, the transaction valued Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore.

Mubadala: Abu Dhabi-based sovereign investor Mubadala Investment Company bought a 1.85% stake in Jio Platforms for Rs 9,093.6 crore on June 5. The investment from Mubadala came at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore.

Silver Lake: The company announced a second investment in Jio Platforms on June 5 for Rs 4,546.80 crore for a 0.93% stake. It valued Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore. The additional investment translated into a 2.08% equity stake in Jio Platforms on a fully diluted basis.

ADIA: Abu Dhabi Investment Authority (ADIA) invested Rs 5,683.50 crore for 1.16% stake in Jio Platforms Ltd on June 7. The investment by an undisclosed wholly-owned subsidiary of ADIA valued Jio Platforms at Rs 4.91 lakh crore.

TPG Capital: TPG’s investment on June 13 in Jio was Rs 4,546.80 crore for a 0.93% stake assigning it an equity valuation of Rs 4.91 lakh crore and an enterprise valuation of Rs 5.16 lakh crore.

L Catterton: L Catterton invested Rs 1,894.50 crore on June 13, the same day as TPG, in exchange for a 0.39% stake in the tenth investment in RIL’s digital unit in seven weeks.

Public Investment Fund: The Saudi Arabian sovereign wealth fund picked up a 2.32% stake in Jio Platforms for Rs 11,367 crore on June 18. It gave Jio Platforms an equity valuation of Rs 4.91 trillion and an enterprise value of Rs 5.16 trillion.

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