Google has become the latest high-profile firm to back India’s Reliance Jio Platforms. The search giant is investing $4.5 billion for a 7.73% stake in the top Indian telecom network, Reliance Industries chairman Mukesh Ambani said on Wednesday.
Who invested in Reliance recently?
Reliance Industries today announced that global investment firm GIC will invest ₹ 5,512.5 crore into its retail arm Reliance Retail Ventures Limited (RRVL) and also and also another investment firm TPG will invest ₹ ₹ 1,837.5.
American PE firm KKR acquired a 2.32% stake in Jio Platforms for ₹113.67 billion (US$1.5 billion). In June 2020, Emirati sovereign fund Mubadala confirmed that it would acquire a 1.85% stake in the company for ₹90.936 billion (US$1.2 billion).
Has Google invested in Jio?
Joining the elite list of investors, such as Facebook, Google has now paid ₹33,737 crores to Jio Platforms Limited, a subsidiary of the Mukesh Ambani-owned Reliance Industries Limited (RIL). With this investment, Google owns a 7.73% stake in Jio.
Can I invest in Jio?
Currently, Jio Platforms isn’t listed on any stock exchange. If you want to invest in Jio Platforms, you’d have to invest in Reliance Industries stock. Reliance’s chairman and managing director Mukesh Ambani said that Reliance plans to take Jio public in the future.
Who funded Reliance Industries?
The promoter group, the Ambani family, holds approx. 49.38% of the total shares whereas the remaining 50.62% shares are held by public shareholders, including FII and corporate bodies. Life Insurance Corporation of India is the largest non-promoter investor in the company, with 7.98% shareholding.
Who is CEO of Jio?
Atul Kansal – CEO – Jio | LinkedIn.
Who is the real owner of Jio?
|Jio’s headquarters in RCP, Navi Mumbai|
|Headquarters||Maker Chambers IV, 222 Nariman Point, Mumbai, Maharashtra , India|
|Key people||Mukesh Ambani (Chairman) Sandip Das (Managing Director)|
|Products||Fixed line telephone Mobile phones Wireless broadband Internet services OTT Services|
Who is owner of AJIO?
With a total wealth of $92 billion, Mukesh Ambani, Chairman of Reliance Industries, topped the rich list for the 14th year in a row — adding $4 billion to his net worth in 2021, as per Forbes Rich List.
Does reliance invest in startups?
JioGenNext is a startup accelerator backed by Reliance Industries. We advise and mentor exceptional founders for launching their startup in the Jio ecosystem.
What is the valuation of Flipkart?
Flipkart said on Monday it has raised $3.6 billion at a post-money valuation of $37.6 billion in what is widely believed to be the pre-IPO round for the Indian e-commerce conglomerate as it works to list in the public markets as soon as early next year.
NSE 2458.95 +2.50 ( 0.10 %)
Why is everyone investing in Jio?
Social distancing has meant increased usage of technology and digital solutions, which is driving investors towards tech companies. RIL has tapped into this heightened interest for technology investments by positioning Jio as a digital platform company.
Why is Jio raising so much money?
First, it’s a part of RIL, the largest company in India. Second, Jio is the market leader and making profits. It makes abundant business sense to invest in Jio and make profits before the company gets listed on the stock market a few years from now.