With 10 Big Investments, Jio Raises Rs 1.04 Lakh Crore Within 8 Weeks By Giving Away 22% Stake

by GoNews Desk 10 months ago Views 663

With 10 Big Investments, Jio Raises Rs 1.04 Lakh C
Reliance Jio, the country's largest telecom company, has constantly been raising money from foreign investors as it moves to strengthen its business.

Jio has raised more than Rs 1 Lakh crore from April 22 to date by selling its 22.38% stake to 10 big investors in just eight weeks.

The latest added in the long list of equity investors is US company TPG, which bought 0.93% in Reliance Jio with an investment of Rs 4,546.80 crore. At the same time, Jio has announced to sell 0.39% stake to L Catterton for Rs 1894.50 crore.

Jio has so far sold 22.38% of its shares to ten big investors and has accumulated capital of Rs 104,326.95 crore (over $13.8 billion). These include big names like Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, ADIA, TPG, L Catterton besides Abu Dhabi's company Mubadala.

Facebook bought a 9.99% stake in Jio for Rs 43,573 crore. The investments have taken Jio Platforms’ equity value to Rs 4.91 lakh crore and enterprise value to ₹5.16 lakh crore.

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