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Home / Business News / Jio Platforms raises Rs 13,640 crore in 1 day

Jio Platforms raises Rs 13,640 crore in 1 day

The high-value deals underscore the potential of India’s large, expanding base of telecom users and Jio’s leadership of this growing market.

business Updated: Jun 06, 2020 05:04 IST
Anirudh Laskar
Anirudh Laskar
Hindustan Times, Mumbai
The latest investments value Jio Platforms at an equity value of ₹4.91 lakh crore and an enterprise value of ₹5.16 lakh crore, the RIL statement said.
The latest investments value Jio Platforms at an equity value of ₹4.91 lakh crore and an enterprise value of ₹5.16 lakh crore, the RIL statement said.(REUTERS)

Reliance Industries Ltd (RIL) on Friday announced two large investments by foreign investors totalling ₹13,640.4 crore into Jio Platforms Ltd. With this, the digital services unit of RIL has raised ₹92,202.15 crore from top global investors in less than six weeks.

In the first transaction, Abu Dhabi-based Mubadala Investment Co. bought a 1.85% stake in Jio Platforms for ₹9,093.60 crore, becoming the sixth global investor in the digital services firm.

Later in the day, RIL said Silver Lake, which had invested ₹5,655.75 crore in Jio Platforms on May 4, will invest an additional ₹4,546.80 crore, along with its co-investors, bringing its aggregate investment to ₹10,202.55 crore, for a 2.08% stake.

The latest investments value Jio Platforms at an equity value of ₹4.91 lakh crore and an enterprise value of ₹5.16 lakh crore, the RIL statement said.

Starting with Facebook’s ₹43,574 crore investment in April, Jio Platforms has sold stakes to private equity firms KKR & Co., Silver Lake, Vista Equity Partners and General Atlantic.

The high-value deals underscore the potential of India’s large, expanding base of telecom users and Jio’s leadership of this growing market.

A fast-expanding online retail market in India is also giving hope to global firms about the prospects of this market.

“I am delighted that Mubadala, one of the most astute and transformational global growth investors, has decided to partner us in our journey to propel India’s digital growth towards becoming a leading digital nation,” said Mukesh Ambani, chairman and managing director of Reliance Industries .

“I would like to emphasise that Silver Lake’s additional investment in Jio Platforms, within a span of five weeks during the Covid-19 pandemic, is a strong endorsement of the intrinsic resilience of the Indian economy, which will surely grow bigger with comprehensive digital enablement,” Ambani said.

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