Categories: Business

Reliance Jio announces investment of over Rs 6,500 crore by General Atlantic | Reliance gets fourth investor in four weeks, will invest 6598 crore in General Atlantic Jio

Photo: FILE

Reliance jio

The Corona crisis continues at this time around the world. Economic activities in the country are constantly going down the drain. But even in these difficult times, Reliance Industries is attracting investors from all over the world. Reliance Jio has got the fourth investor in the last four weeks. Reliance announced today that the American private equity firm General Atlantic will invest Rs 6598 crore in Reliance Jio. General Atlantic has put Jio's equity value at Rs 4.91 lakh crore and enterprise value at Rs 5.16 lakh crore. After the investment, it will hold 1.34 per cent stake in the company.

Earlier, on April 22, Jio Platforms signed a deal of Rs 43,574 crore with Facebook, after which Jio Platforms' 9.9% stake went to Facebook. Facebook is the largest shareholder of Jio platforms. It was followed by the US private equity firm Silver Lake. The deal is worth Rs 5,656 crore. Silver Lake is the global leader in investment in technology, followed by assets of around $ 43 billion and has a team of around 100 investment and operating professionals worldwide.

Apart from this, private equity company Vista Equity Partners will also invest Rs 11,367 crore in Jio Platforms. This has been announced by Jio and Reliance. Vista's investment will increase its stake in Jio Platform to 2.32%.

This post was published on May 17, 2020 11:15 pm

Content Team

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