Rs 1.18 trillion in 83 days: A look at Jio Platforms' fundraising journey
Reliance Industries Limited (RIL) will hold its 43rd Annual General Meeting (AGM) post IPO on Wednesday. This time, the Reliance AGM will be held virtually through video conferencing due to the coronavirus pandemic. During the AGM, RIL chairman Mukesh Ambani is likely to lay down the future plans of his company's digital assets unit Jio Platforms Limited.
Since April 22 this year, Jio Platforms Limited has raised a record Rs 1.18 trillion investment by selling stakes to a dozen of the world’s biggest investors, including social media giant Facebook. Now there are reports claiming that internet giant Google is also in advance talks to join the marquee investors, Facebook, Intel, Qualcomm as well as private equity firms General Atlantic and KKR, with close to USD 4 billion in investment in Jio Platforms. If it comes through, Google investment will take the total fundraising by Ambani for his digital assests unit to Rs 1.48 trillion.
Here's a look at Jio Platforms' fundraising journey
Facebook investment in Jio: On April 22, social media major Facebook bought 9.99 per cent stake in Relience Jio with an investment of Rs 43,574 crore.
Silver Lake investment in Jio: Less than two weeks after Facebook, American private equity (PE) giant on May 3 announced an investment of Rs 5,656 crore in Jio Platforms accounting to 1.15 per cent stake in the company.
Vista Equity investment in Jio: On May 8, another US-based private equity firm announced that it will buy 2.32 per cent stake in RIL's digital arm Jio with an investment of Rs 11,367 crore.
General Atlantic investment in Jio: Reliance Jio recieved an investment worth Rs 6,598 crore for a 1.34 per cent stake from another US-based PE firm General Atlantic on May 17.
KKR investment in Jio: On May 22, yet another US-based PE company KKR announced to buy a 2.32% stake in Jio Platforms with an investment of Rs 11,367 crore.
Mubadala investment in Jio- Abu Dhabi-based investor Mubadala on May 5 announced Rs 9,093 investment in the telecom arm of RIL in exchange for a 1.85 per cent stake.
TPG investment in Jio: Reliance on June 13 announced that it has recieved an investment worth Rs Rs 4,546.80 crore in Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore.
L Catterton investment in Jio: One of the world's largest consumer-focused private equity firms L Catterton bought 0.39 per cent equity stake in Jio platforms with an investment worth Rs Rs 1,894.50 crore.
Intel investment in Jio: Jio Platforms on July 3 announced that US chipmaker Intel has invested USD 2.53.3 million in the firm in exchange for .39 per cent stake.
Qualcomm investment in Jio: US-based public MNC Qualcomm has invested Rs 730 crore in Jio Platforms in exchange of 0.15 per cent equity stake in the company, Reliance Industries Limited said on Sunday, July 12.
Saudi Arabia-based wealth fund Public Investment Fund and Abu Dhabi Investment Authority have also invested Rs 11,367 crore and Rs 5,683.5, in Jio Platforms to buy 2.32 per cent and 1.16 per cent stakes, respectively.
Posted By: Shashikant Sharma