Jio platform has raised its total wealth by Rs97,885 crore.
According to the source Reliance industries on Sunday said it that they had sold a stake of around 1.16 percent stake in its digital unit of AIDA for Rs 5,683.50 crore, And the fundraising up to Rs 97,885.65 crore will help reliance to trim off it dept at oil-to-telecom conglomerate.
With these investments from the last couple of weeks, Jio platforms have raised Rs 97,885.65 crore from some world-leading angel investors Which include Facebook, Silver lake, KKR, General Atlantic, Vista Equity Partners, Mubadala and AIDA at last in less than 7 weeks.
The deals of the last couple of weeks are as follows: Facebook picking stocks of cost Rs43,573 crore which is 9.99% of stakes of Jio.
Within the days of deal with Facebook picking up the stocks, On May 4th, 2020, Silver Lake world’s largest tech investor bought the stake of India’s youngest but largest telecom firm with over 388 million subscribers worth Rs 5,665 crore and its around 1.15% of Jio’s stake.
On May 8, A US-based Firm Vista Equity partners bought Jio’s stake around 2.32% of Jio’s stake worth around Rs 11,367 crore.
On May 17th General Atlantic global equity firm picked up stake around 1.34% of Jio’s stake worth Rs6,598 crore. Within the days of deal with General Atlantic, a US private equity giant KKR buys 2.32% of Jio’s stake worth around Rs 11,367 crore.
ADIA to invest ₹ 5,683.50 Cr in Jio Platforms. pic.twitter.com/azxBTJv48B
— Reliance Jio (@reliancejio) June 8, 2020
The last stake was bought on June 5 by Abu Dhabi Investment Authority (AIDA) which is around 1.16% and worth Rs 5,683.50 crore.
Mukesh Ambani chairman and managing director of Reliance had set a target of March 2021 to make his conglomerate net debt-free.