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Jio Platforms Receives Payments From 4 More Investors On Stake Sale Deals

By Staff

Late on Friday, Reliance Industries Limited (RIL) said that it has closed deals on to sell a minority stake in Jio Platforms to four investors earlier announced by the company.


Jio Platforms Receives Payments From 4 More Investors On Stake Sale Deals

In a regulatory filing, the company said that it received Rs 1,894.50 crore from Interstellar Platform Holdings Pte. Ltd. (L Catterton) for 0.39 percent stake in Jio Platforms, Rs 11,367 crore from Saudi Arabia's Public Investment Fund for 2.32 percent stake, Rs 10,202.55 crore from SLP Redwood Holdings Pte & SLP Redwood Co-Invest (Silver Lake) for 2.08 percent and Rs 6,598.38 crore from General Atlantic Singapore for 1.34 percent stake.

This amounts to Rs 30,062.43 crore for 6.13 percent stake.

Earlier this week, RIL said that it received Rs 43,574 crore from Jaadhu Holdings, LLC (a wholly-owned subsidiary of Facebook Inc) for its biggest stake deal with Facebook.

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: Saturday, July 11, 2020, 12:10 [IST]
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