Jio Platforms gets over Rs 30,000 crore from 4 investors null
Jio Platforms had blazed a spectacular trail by raising over 15.5 billion dollars (Rs 117,588.45 crore) in the peak lockdown period with 11 different investors committing themselves to various amounts of investments in the Mukesh Ambani-helmed company.
And those committed investments have started flowing into Jio Platforms.
Today, the holding company Reliance Industries, in a press release, said: “We hereby inform that, after receipt of all requisite approvals, Jio Platforms Limited, a subsidiary of the Company, received the subscription amounts from the following investors and allotted equity shares to them.”
The four investors are: L Catterton, PIF, Silver Lake, and General Atlantic Singapore.
Interstellar Platform Holdings Pte. Ltd. (L Catterton) has put in Rs 1,894.50 crore for a 0.39% share in the RIL subsidiary, while PIF has bought 2.23% equity for Rs 11,367 crore. SLP Redwood Holdings Pte. Ltd, and SLP Redwood Co-Invest (DE), L.P. (Silver Lake 1 and 2) have invested Rs. 10,202.55 crore for a 2.08% share and General Atlantic Singapore has picked up 1.34% for Rs 6,598.38 crore in Jio Platforms.
So far, 11 global investors have bought 25.09% stake in Jio Platforms for a total of Rs Rs 117,588.45 crore. These investments, along with Rs 53,124 crore raised through a rights issue, have helped Reliance Industries become net debt-free.
Facebook has paid its subscrition amount
Earlier this week, Facebook’s entity Jaadhu Holdings LLC paid the subscription amount of Rs. 43,574 crore to Jio Platforms Ltd for a 9.99% stake in the latter.
The Facebook deal was the first to be announced in April after which 11 more investment deals were signed by Jio Platforms. The deal was approved by the Competition Commission of India on 24 June.
Along with Facebook, the other investors in Jio Platforms include Silver Lake (1 and 2), KKR, Vista Equity Partners, General Atlantic, Mubadala, Abu Dhabi Investment Authority, TPG, L Catterton and PIF.
Intel Capital, the investment arm of US-based semiconductor giant Intel, was the last big investor in Jio Platforms. It chipped in with Rs 1,894.50 crore last week.
Jio Platforms had blazed a spectacular trail by raising over 15.5 billion dollars (Rs 117,588.45 crore) in the peak lockdown period with 11 different investors committing themselves to various amounts of investments in the Mukesh Ambani-helmed company. And those committed investments have started flowing into Jio Platforms. Today, the holding…
