20-April-2024
Corporate News
 
Reliance Industries receives Rs 30,000 cr from for 4 Jio Platform investors; closes 6.13% stake sale
11-Jul-2020

After Facebook Inc, Reliance Industries has closed deals to sell a minority stake in its digital arm to four other investors, receiving a total of over Rs 30,062 crore. In a regulatory filing, Reliance said it has closed sale of 6.13 per cent stake in Jio Platforms with L Catterton, The Public Investment Fund, Silver Lake and General Atlantic. Reliance had sold a total of 25.09 per cent stake in the subsidiary which houses India’s youngest but largest telecom firm, Jio, to 11 investors for Rs 1,17,588.45 crore. It had earlier this week closed the deal with the biggest investor Facebook when it received Rs 43,574 crore from Jaadhu Holdings, LLC (a wholly owned subsidiary of Facebook Inc).

News Source:- https://www.financialexpress.com/industry/reliance-industries-receives-rs-30000-from-for-4-jio-platform-investors-closes-6-13-stake-sale/2020537/