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Mukesh Ambani raises more funds, now US private equity firm invests $1.5 billion in Jio

Mukesh Ambani has been announcing a string of fund-raising plans as part of a proposal to slash debt at Reliance & bolster investor confidence.

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Mumbai: Vista Equity Partners will buy a 2.3% stake in Reliance Industries Ltd.’s Jio Platforms for 113.7 billion rupees ($1.5 billion), making the private-equity firm the largest investor in the digital arm after the parent and Facebook Inc.

With the latest investment, Jio Platforms has raised about 606 billion rupees from technology investors, the Indian company said in a statement Friday. Facebook announced buying about 10% for $5.7 billion last month, followed by a $753 million investment by Silver Lake Partners a few days later.

“We are excited to leverage the professional expertise and multi-level support that Vista has been offering to its investments globally for the benefit of Jio,” Reliance Industries Chairman Mukesh Ambani said in the statement.

The Indian billionaire, Asia’s richest person, has been announcing a string of fund-raising plans as part of a proposal to slash debt at his Mumbai-based conglomerate and also to bolster investor confidence following the pandemic-led crash in crude oil prices. Last month, Reliance Industries said that the group’s net debt would be slashed to zero ahead of its previous target of early 2021.


Also read:Reliance cuts salaries, Mukesh Ambani won’t get any pay this year


 

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4 COMMENTS

  1. Hi sir man AK grab banda ho Ameer balochistan ka sir mujay English nahi ata ya sir man Dil ka mareez ho maray choty choty bachay hay sir kya ap meri help krdangay please Sir ap ke bari mehrabani ho GE.

  2. Good morning Mukesh Ambani and how are you all everybody we are are poor people we are doing the agricultural any labour worker now we want to your help because Corona virus and now we don’t have no work and no food no anything etc please send donation to poor people we don’t forget for your help for we life long time please Mukesh Ambani and we are all Manny worried because when will come back for the good days please we are all believing to you Mukesh Ambani please send donation

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