For Quick Alerts
For Daily Alerts

2 More Companies Eye Stake In Reliance Jio Platforms: Report


After three high profile investments into Jio, as per a Bloomberg report 2 more companies are looking to buy a stake into the $65-billion digital arm of Reliance Industries.

A Bloomberg report citing sources privy to the development said General Atlantic, the US-based private equity firm is looking at an investment in the firm of $850 million to $950 million. The deal could be finalized as early as this month, though as of now no agreement has been entered into.

2 More Companies Eye Stake In Reliance Jio Platforms: Report

In a separate report, Bloomberg said Public investment Fund (PIF) of Saudi Arabia is also looking at buying a minor stake in the Jio platform.

Earlier, Facebook and then Silver lake bought stake in the firm after which on Friday, the conglomerate announced stake sale to Vista Equity Partners.

Through the 3 investments, the company will be able to pare a significant part of its debt as through all of the deals RIL will be able to mop up $8 billion.

So, if the potential deal by Saudi Arabian company and the US based private equity goes through, RIL will be able to add to its liquidity over and above the $8 billion that it has already raised.

Story first published: Saturday, May 9, 2020, 11:45 [IST]
Company Search
Get Instant News Updates
Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more