Categories: Business

Reliance completes deal with 4 investors; Rs 30,062 crore received for stake in Jio


Reliance closes deal with 4 investors, gets Rs 30,062 cr

new Delhi. Reliance Industries has received a total of Rs 30,062 crore from four other investors for the sale of a partial stake in the group company Jio Platforms. Earlier, the company had said that it had received the deal money for the share of Jio Platforms with Facebook. In a communication sent to the stock market on Saturday, Reliance Industries said that it has signed a deal to sell its 6.13 percent stake in Jio Platforms to El Catarton, The Public Investment Fund, Silver Lake and General Atlantic.

Reliance has so far sold a total of 25.09 per cent stake in its digital unit to various stakeholders. For this, it has done deals worth Rs 1,17,588.45 crore with a total of 11 investors including Facebook. The company first struck a deal with big investor Facebook. It received Rs 43,574 crore for the deal from Jadoo Holdings LLC, a wholly owned entity of FaceGook.

The company then said on 7 July that Jio Platforms Ltd has allotted 9.99 percent equity shares to Jadoo Holdings. The company said that it has now paid Rs 1,894.50 crore for a 0.39 per cent stake in InterCetaler Platform Holdings Pvt Ltd of El Caterton. At the same time, The Public Investment Fund has paid Rs 11,367 crore for 2.32 percent stake of Jio Platforms.

Silver Lake units SLP Redwood Holdings Pvt. Ltd. and SLP Redwood Co-Invest (DE) L.P. Has given Rs 10,202.55 crore for a 2.08 percent stake. General Atlantic Singapore Jaypee Pvt Ltd has paid Rs 6,598.38 crore to buy 1.34 per cent stake in Jio Platforms.

This post was published on July 11, 2020 2:25 pm

Content Team

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