Reliance Industries Share: This is the third high profile-investment in Reliance Jio in the past one month after the stake purchase by Facebook and Silver Lake.
Symbol: SILVER| Contract: Jul, 2020| Category: Bullion
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Billionaire Mukesh Ambani-led Reliance Industries on Friday announced a Rs 11,367-crore stake sale in its digital unit Jio Platforms, a third deal in little over two weeks that will inject a combined Rs 60,596.37 crore in the telecoms-to-energy group to help it pare debt. The deal will value Jio Platforms - which houses Reliance Industries's telec...
Reliance said April 30 that it has received interest from new potential global partners in taking a stake similar to the purchase by Facebook in Jio Platforms.
Jio-Silver Lake Deal: The oil-to-telecom conglomerate reported a 39 per cent fall in net profit to Rs 6,348 crore in the fourth quarter ended March 2020.
Silver Lake: The deal comes days after Facebook said it would spend $5.7 billion to buy a 9.99 per cent stake in Jio Platforms.
Silver Lake's investment, at a 12.5 per cent premium to the equity valuation of the Facebook deal, gives it slightly more than a 1 per cent stake in Jio Platforms.
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