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Reliance Industries receives Rs 43574 crore in Jio Platform from Jaadhu Holdings a Subsidiary of Facebook

Photo: FILE

Jio receives Rs 43574 crore from facebook

new Delhi. Deal of share purchase through Facebook in Reliance Jio has been completed today. Reliance Industries has informed today that Jio Platforms has received Rs 43574 crore from Facebook subsidiary Jaadhu Holdings today after getting all necessary approvals to the deal. Also, Jio has also issued shares to Jaadhu Holdings as per the agreement. With the completion of the deal, Jaadhu Holdings now has a 9.99 per cent stake in Jio.

Only last week, the Competition Commission of India (CCI) approved Facebook to buy a 9.99 percent stake in Jio Platforms. At the same time last week, Intel Capital announced a 0.39% stake in jio Platforms with an investment of Rs 1894.5 crore. The company is a unit of the tech company Intel. So far, 11 investors have joined Jio in the purchase of shares starting from April. During this period, Jio has received more than Rs 1.15 lakh crore from investors.

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 tech 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 July 8, 2020 1:35 am

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