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Jio Platforms receives over Rs 73,600 crore for 16.12% stake from five of its investors

In only a matter of 11 weeks Jio Platforms had received investment commitments worth Rs 117,588.45 crore from 11 companies

twitter-logoBusinessToday.In | July 11, 2020 | Updated 09:38 IST
Jio Platforms receives over Rs 73,600 crore for 16.12% stake from five of its investors
Jio Platforms investments

Jio Platforms, the digital arm of Mukesh Ambani-led Reliance Industries said on Friday night that it has received subscription amounts from four investors. This statement comes after Jio received Facebook's subscription amount of Rs 43,574 crore for 9.99 per cent stake on July 8.

"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 Jio Platforms.

The company said that it has received Rs 1,894.50 crore for 0.39 per cent of fully diluted equity share capital of Jio Platforms from L Catterton, Rs 11,367 crore from the Public Investment Fund for 2.32 per cent, Rs 10,202.55 crore for 2.08 per cent from Silver Lake and Rs 6,598.38 crore for 1.34 per cent from General Atlantic Singapore. This amounts to Rs 30,062.43 crore for 6.13 per cent.

So far, Jio Platforms has received Rs 73,636.43 crore for 16.12 per cent stake for Jio Platforms.

In only a matter of 11 weeks Jio Platforms had received investment commitments worth Rs 117,588.45 crore from 11 companies. Silver Lake Partners had initially announced investments of Rs 5,655.75 crore for 1.15 per cent stake in the company. It then announced a second round of investment of Rs 4,546.80 crore for 0.93 per cent.

Facebook, Silver Lake, Vista, General Atlantic, KKR, Mubadala, Silver Lake, ADIA, TPG Capital, L Catterton, and Public Investment Fund are the 11 companies that announced 12 investments in Jio Platforms for 25.09 per cent stake.

Also read: Jio receives Rs 43,574 crore from Facebook for 9.99% stake

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