Is Jio Platforms looking to raise more funds?

Our Bureau | | Updated on: May 25, 2020

Hyderabad, Telangana, 22/04/2020: JIO Telecom logo is seen at a mobile phone store in Hyderabad on April 22, 2020. Facebook has taken a $5.7 billion stake in the Jio digital platforms business of India's richest man Mukesh Ambani, the two sides said on April 22 marking one of the biggest foreign investments in the country. The deal will give the US social media giant a 10 per cent stake in Jio Platforms, part of Ambani's Reliance Industries empire. Photo: Nagara Gopal / The Hindu

Jio Platforms, the wholly-owned subsidiary of Reliance Industries Ltd (RIL), is reportedly scouting for more funds, with the firm in talks with two more investors.

The company controlled by Asia’s richest man Mukesh Ambani is in talks with Saudi Arabia’s Public Investment Fund for an investment, according to various media reports.

Jio Platforms, which raised a total of ₹78,562.13 crore from five global investors since April 22, is also in discussions with Abu Dhabi-based sovereign investor Mubadala Investment Company, media reports said.

BusinessLine could not independently verify these reports.

Over the last month, Jio Platforms has raised fund in lieu of a total 17.12 per cent stake sale from investors such as Facebook, Silver Lake, Vista, General Atlantic and KKR.

Jio Platforms funds raised since April 22

TOTAL: ₹78,562.13 crore in exchange of 17.12 per cent stake

ALSO READ: Rs43,574-crorelike’: Facebook picks 9.99 per cent in JioPlatforms

ALSO READ: Silver Lake to invest ₹5,655 crorein JioPlatforms

ALSO READ: Reliancelaunches ₹53,125 crorerights issue; to give one share for every 15 shares held

ALSO READ: JioPlatformsraises ₹11,367 crorefrom Vista Equity Partners

Published on May 25, 2020
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