Reliance has now sold nearly 20 percent of Jio Platforms to investors, including Facebook, securing around $12 billion in less than six weeks.<\/p>\n
The deal adds to a recent flurry of fund-raising activity by the oil-to-telecoms giant, controlled by India’s richest man Mukesh Ambani<\/a>, including a $7 billion share sale, with plans to eliminate $21.4 billion of net debt by the end of the year.<\/p>\n “The investment momentum behind Jio validates a compelling business model and underscores our admiration for Mukesh Ambani…,” Egon Durban, Silver Lake’s Co-CEO said in the statement.<\/p>\n Silver Lake has about $40 billion in assets under management, including investments in Twitter, Dell Technologies, and movie theatre chain AMC Entertainment Holdings.<\/p>\n Reliance plans to wrap up the bulk of its private fundraising by the third quarter before exploring a 2021 public listing in the United States, where it is eyeing a valuation of $90 billion to $95 billion for Jio Platforms, Reuters reported previously.<\/p>\n Tags:<\/b> Reuters<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" This brings the aggregate investment by Silver Lake and its co-investors to Rs. 10,202.55 crores in Jio Platforms. Reliance Industries late on Friday said US private equity fund Silver Lake and its co-investors will invest an additional Rs. 4,546.80 crores in the company’s digital unit Jio Platforms. The investment comes on top of the Rs. … Continue reading Silver Lake, Co-Investors to Put Extra Rs. 4,547 Crores in Jio Platforms<\/span><\/a> Continue Reading
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