Info-tech

Is Jio Platforms looking to raise more funds?

Our Bureau Mumbai | Updated on May 25, 2020 Published on May 25, 2020

RIL has been able to get top-dollar for its stake sales in Jio Platforms Nagara Gopal

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

Date

Company

Investment

Equity Stake

April 22, 2020

Facebook

₹43,574 crore

9.99%

May 4, 2020

Silver Lake

₹5,655.75 crore

1.15%

May 8, 2020

Vista Equity Partners

₹11,367 crore

2.32%

May 17, 2020

General Atlantic

₹6,598.38 crore

1.34%

May 22, 2020

KKR

₹ 11,367 crore

2.32%

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

ALSO READ: Rs 43,574-crorelike’: Facebook picks 9.99 per cent in Jio Platforms

ALSO READ: Silver Lake to invest ₹5,655 crore in Jio Platforms

ALSO READ: Reliance launches ₹53,125 crore rights issue; to give one share for every 15 shares held

ALSO READ: Jio Platforms raises ₹11,367 crore from Vista Equity Partners

Published on May 25, 2020
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