Reliance raises ₹1.04 lakh crore from marquee investors in 8 weeks
The Hindu 14 June 2020 Billionaire Mukesh Ambani’s oil-to-telecom conglomerate Reliance Industries has raised a record ₹1.04 lakh crore in less than eight weeks from sale of minority stakes in its digital unit Jio Platforms to marquee investors. On Saturday evening, it announced sale of 0.93% in Jio Platforms to global investment firm TPG for ₹4,546.80 crore and 0.39% to private equity firm L Catterton for ₹1,894.50 crore. With these, Reliance has now sold 22.38% of Jio Platforms to investors including Facebook Inc, securing ₹1,04,326.95 crore in less than eight weeks, a company statement said. The investments in Jio Platforms, which comprises the firm’s telecoms arm Reliance Jio Infocomm and its music and video streaming apps, give the unit an enterprise value of ₹5.16 lakh crore, it said. It has literally been an investment spree into Jio Platforms ever since Facebook announced its ₹43,573.62 core infusion on April 22. Besides Facebook, Reliance has attracted some o...