Categories: Business

PIF to invest Rs 11367 cr in Jio platforms

Photo: FILE

PIF to invest Rs 11367 cr in Jio platforms

new Delhi. Jio Platforms of Reliance Industries has got the tenth investor. The company has informed the stock market today that Saudi Arabia's Wealth Fund will invest Rs 11367 crore in PIF Jio. According to Reliance Industries, the investment will buy 2.32% stake in Wealth Fund Jio. With this deal, Jio's equity value has increased to Rs 4.91 lakh crore. At the same time, the enterprises value reached Rs 5.16 lakh crore.

According to RIL, Jio Platforms has raised more than Rs 1.15 lakh crore from investors during the last 9 weeks. So far, a total of 10 investors have invested in Jio. Recently, RIL sold 1.32 percent stake in Jio Platforms for Rs 6,441.3 crore to TPG and El Caterton.

The process of investing in Jio Platforms started on April 22.First on April 22, Facebook bought a 9.99 percent stake in Jio Platforms for Rs 43,574 crore. A few days after the deal, Silver Lake, the world's largest technology investor, bought a 1.15 percent stake in Jio Platforms for Rs 5,665.75 crore. Subsequently, US-based Vista Equity Partners bought a 2.32 percent stake in Jio Platforms for Rs 11,367 crore on May 8. Global equity firm General Atlantic acquired 1.34 percent stake in the company on May 17 for Rs 6,598.38 crore. Subsequently, American equity investor KKR bought a 2.32 percent stake for Rs 11,367 crore. On June 5, Abu Dhabi's Savren Property Fund Mubadla and private investment company Silver Lake also invested. Mubadla invested Rs 9,093.60 crore for a 1.85 percent stake in Jio Platforms, while Silverlake made another fresh investment of Rs 4,546.80 crore for an additional 0.93 percent stake in Jio Platforms. This led to a total investment of Rs 10,202.55 crore and a total stake of 2.08 percent by Silver Lake in Jio platforms. The Abu Dhabi Investment Authority (AIDA) also invested Rs 5,683.50 crore for a 1.16 percent stake in Jio Platforms.

This post was published on June 18, 2020 6:33 pm

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