Reliance closes deal with 4 investors, gets Rs 30,062 cr

Saturday, 11 July 2020Newsdesk

After Facebook Inc, Reliance Industries has closed deals to sell a minority stake in its digital arm to four other investors, receiving a total of over Rs 30,062 crore. In a regulatory filing, Reliance said it has closed sale of 6.13 per cent stake in Jio Platforms with L Catterton, The Public Investment Fund, Silver Lake and General Atlantic.

New Delhi, 11 July 2020

Reliance had sold a total of 25.09 per cent stake in the subsidiary which houses India's youngest but largest telecom firm, Jio, to 11 investors for Rs 1,17,588.45 crore. As per news report of PTI, it had earlier this week closed the deal with the biggest investor Facebook when it received Rs 43,574 crore from Jaadhu Holdings, LLC (a wholly owned subsidiary of Facebook Inc).

Source -ptinews.com