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The telecom operator is working to identify potential investors in US & could also raise part of the funds through other methods such as an offering of equity-linked securities.
Everyone’s buying into the Reliance Jio dream for now. Big investors such as Facebook and Google are writing a cheque to own a slice of it.
Mukesh Ambani unveiled a slew of services from Jio, including a 5G network as early as next year and a mega video-streaming platform.
Mukesh Ambani's Jio has now sold about 25% of its shares to buyers, including Facebook and US private equity firms KKR & Co., and Silver Lake.
Ambani’s Reliance has launched JioMeet video conferencing app after beta testing. The app has already garnered more than 100,000 downloads.
Intel Corp. has agreed to pay approximately Rs. 1,895 crore ($253 million) for a stake in the telecom giant, joining other investors like Facebook Inc., KKR & Co. and Silver Lake Partners.
Reliance is preparing Jio Platforms for an IPO outside India and the offering could happen in the next 12 to 24 months.
JioMart is now delivering in more than 200 cities. Last month, it started a pilot project serving users in three neighbourhoods surrounding Mumbai.
Investors are betting on Jio’s access to India’s huge consumer market & its potential to shake up traditional industries with its technology.
Mukesh Ambani has raised $8 billion with 3 deals in 3 weeks as he races to transform his oil-and-petrochemicals empire into a tech-driven, e-commerce force.