Jio Platforms receives Rs 30,362 crore from four investors for a stake of 6.13%

Reliance Industries' Jio Platforms on Saturday finalised all requisite approvals to receive an investment of over Rs 30,000 crores from four top global companies. Acquiring a stake of 6.13%, L Catterton, PIF, Silver Lake and General Atlantic Singapore, invested Rs 30,362 crores in Reliance Industries telecom and digital business becoming 11th investor to do so in 10 weeks. 

“We hereby inform that, after receipt of all requisite approvals, Jio Platforms Limited, a subsidiary of Company, received subscription amounts from following investors and allotted equity shares to m,” said company in an official statement.

So far Jio Platforms has received global investments from 11 companies that have acquired a total 25.09% stake in Jio Platforms for Rs 1.18 lakh crore. Its last investors were Saudi Arabia's sovereign wealth fund Public Investment Fund (PIF) who pumped an investment if Rs 11,367 crores into company in mid-June. 

Back in April, Facebook h anunced an investment worth Rs.43,574 crore in Jio Platforms, changing dynamics in telecom sector. RIL remarked that investment is "largest investment for a mirity stake by a techlogy company anywhere in world and largest FDI in techlogy sector in India". Jio Platforms houses Reliance Industries Limited's telecom business which is largest in country with nearly 400 million subscribers.

Recently, Reliance Industries chairman Mukesh Ambani surpassed business tycoon Warren Buffet's net wealth, according to Bloomberg Billionaires Index. This comes in wake of huge benefits for his digital business. w, Ambani is worth Rs.68.3 billion dollars in comparison to Berkshire Hathaway CEO's wealth worth Rs. 67.9 billion dollars.

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