Tag: jio platform

RIL has said that the Abu Dhabi state fund Mubadala Investment Co will buy a 1.85 percent stake in its digital unit, Jio Platforms, for Rs 9,093.6 crore. The Jio Platforms investment is the largest in an Indian firm by Mubadala, which is the second-biggest state investor in Abu Dhabi after Abu Dhabi Investment Authority (ADIA), managing about $240 billion in assets. Reliance has now sold a combined 19% interest in Jio Platforms, which houses movies, music apps, and telecoms venture Jio Infocomm, in six fundraising deals including a 9.99% stake sale to Facebook Inc for $5.7 billion. The interest in Jio Platforms highlights its potential to become the dominant player in India's digital economy. The telecoms unit has already decimated several rivals with cut-throat pricing and is counting on Reliance's retail network to expand into e-commerce.

Reliance Industries announced yet another investment in Jio Platforms from global investment firm Vista Equity Partners, which will pump in Rs 11,367 crore for a 2.32 percent equity stake on a fully diluted basis. The transaction valued Jio Platforms at Rs 4.91 lakh crore and pegged the enterprise value of Rs 5.16 lakh crore. The investment made Vista the largest investor in Jio Platforms behind Reliance Industries and Facebook. With this, Jio Platforms has raised Rs 60,596.37 crore from leading technology investors in less than three weeks. Vista has more than $57 billion in cumulative capital commitments and its global network of companies collectively represents the fifth largest enterprise software company in the world. The transaction is subject to regulatory and other customary approvals.

Silver Lake, a US private equity firm, will invest Rs 5,655.75 crore in Jio Platforms for a 1.15% stake at an equity value of Rs 4.90 lakh crore, a deal which came within 15 days after Facebook announced a $5.7 billion investment into the unit of Reliance Industries. Silver Lake is one of the most respected voices in technology and finance. We are excited to leverage insights from their global technology relationships for the Indian Digital Society’s transformation,” Mukesh Ambani, Chairman and Managing Director, Reliance Industries Ltd, said in a statement. The transaction is subject to regulatory and other customary approvals