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 the Reliance Industries telecom and digital business becoming the 11th investor to do so in 10 weeks. 

“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,” said the 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 the company in mid-June. 

Back in April, Facebook had announced an investment worth Rs.43,574 crore in Jio Platforms, changing the dynamics in the telecom sector. The RIL remarked that the investment is the "largest investment for a minority stake by a technology company anywhere in the world and the largest FDI in the technology sector in India". Jio Platforms houses Reliance Industries Limited's telecom business which is the largest in the 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 the wake of huge benefits for his digital business. Now, Ambani is worth Rs.68.3 billion dollars in comparison to the Berkshire Hathaway CEO's wealth worth Rs. 67.9 billion dollars.

Read: TPG To Invest Rs 4,546.80 Cr In Jio Platforms For 0.93% Equity Stake

Read: Abu Dhabi Based Mubadala Invests Rs 9,093 Crores In Reliance Jio, Stake Worth 1.85%