For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Jio Platforms Receives Payment For 9.9% Stake From Facebook-Owned Firm

By Staff
|

Late on Tuesday, Reliance Industries Limited (RIL) in a stock exchange filing said that its digital arm Jio Platforms has received the subscription amount of Rs 43,574 crore from Jaadhu Holdings, a wholly-owned subsidiary of Facebook Inc.

"Jio Platforms Limited has allotted equity shares to Jaadhu Holdings following which Jaadhu Holdings holds 9.99% of the fully diluted equity share capital of Jio Platforms Limited," the statement said.

Jio Platforms Receives Payment For 9.9% Stake From Facebook-Owned Firm
 

The payment is in line with RIL's 22 April announcement on Facebook's Rs 43,574-crore investment in Jio Platforms for a 9.99 percent stake. The conglomerate has announced 11 more such deals since.

On 3 July, RIL announced that Intel Capital, the investment arm of Intel Corp will invest Rs 1,894.50 crore in Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore. Intel Capital's investment will translate into a 0.39 percent equity stake in Jio Platforms on a fully diluted basis.

Jio Platforms has signed 12 such deals in a span of 11 weeks wherein it has sold 25.09 percent stake to global investors including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, TPG, L Catterton, Saudi Arabia's PIF and Intel.

According to RIL's statement, the total investment of the list of marquee firms who have invested in Jio Platforms since April now stands at Rs 117,588.45 crore.

Story first published: Wednesday, July 8, 2020, 9:15 [IST]
Company Search
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
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