new Delhi. Investors are vying for the stake of Jio Platforms. Within 24 hours of the announcement of investment by Abu Dhabi's sovereign fund company Mubadla, private equity firm Silver Lake has announced to increase investment in Jio Platforms. Reliance Industries has informed that the PE firm and its co-investors will invest an additional Rs 4546.8 crore in Jio Platforms.
Silver Lake had earlier bought 1.15 percent stake in Reliance Jio on May 3 by investing Rs 5,655.75 crore. With the new investment, Silver Lake's total stake in Jio Platforms will be 2.08 per cent and the total investment will be Rs 10202.55 crore.
Reliance Jio has so far invested Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR and Mubadala. With new investment, the company has achieved an investment of more than 92 thousand crores during 6 weeks.
After the announcement of the investment, Reliance Industries Chairman Mukesh Ambani said that the increase in investment by Silver Lake during the epidemic also shows the strength of the Indian economy which will be bigger in the coming times. The company is currently aiming to become a debt-free company. The company has raised more than Rs 53 thousand crore through rights issue. The company has a net debt of Rs 1.6 lakh crore. Experts believe that it will not be difficult for the company to eliminate this debt.
Take a look at Reliance Jio's investment timeline:
5 June: Silver Lake announced to increase its stake to 2.08 per cent with an additional investment of Rs 4546 crore.
5 June: Abu Dhabi's sovereign fund company Mubadla announced an investment of Rs 9093.60 crore in Reliance Jio. With this, it will get 1.85 percent stake in Jio.
22 May: Investment firm KKR also invested Rs 11,367 crore to buy a 2.32 percent stake in Reliance Jio.
17 May: General Atlantic of America acquired 1.34 percent stake in Jio by investing Rs. 6,598.38 crore.
8 May: Vista Equity Partners invested Rs 11,367 crore to buy a 2.32 per cent stake in Reliance Jio.
3 May: Silver Lake acquired 1.15 per cent stake in Reliance Jio by investing Rs 5,655.75 crore.
22 April: Mark Zuckerberg's company Facebook announced an investment of Rs 43,574 crore in Reliance Jio. This investment gave Facebook a 9.99 percent stake in Reliance Jio.
This post was published on June 6, 2020 12:33 am
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