Reliance Jio Receives Another Investment; General Atlantic Plans To Buy 1.34% Stake

Reliance Industries has announced that it is selling its stake in Jio platforms. This is the fourth time in a month that Jio has sold its stake to a US firm. The company is selling its 1.34 percent stake to General Atlantic for Rs. 6,598.38 crore.

Reliance Jio Receives Another Investment From General Atlantic

"This investment values Jio Platforms at an equity value of Rs. 4.91 lakh crore and an enterprise value of Rs. 5.16 lakh crore," Reliance Jio said. However, this transaction will go through regulatory approvals. This investment will help the Jio to raise Rs. 67,194.75 crore from all investors.

For the unaware, General Atlantic has invested in many big companies, such as Alibaba, Ant Financial, Box, ByteDance, Facebook, Slack, Snapchat, Uber, Airbnb, and many more.

Saudi Arabia Might Invest In Jio Platforms

If reports are to be believed, then Saudi Arabia's Public Investment Fund (PIF) is likely to invest around $850 million to $950 million in Reliance Jio platforms. In addition, the company is expected to invest $15 billion in RIL. Notably, there is no confirmation from Reliance Jio and Saudi Arabia yet, but industry sources believe that the former is likely to make an official announcement soon.

List Of All Companies That Have Invested In Jio Platforms In Less Than Four Weeks

Facebook, Silver Lake, Vista Equity Partner, and General Atlantic have invested in the platform. Surprisingly all investors are from one country. If we talk about Facebook, then it is buying a 9.99 percent stake in Jio. The company is investing Rs. 43, 574 crore. Then, Jio announced that Silver Lake Partners is buying a 1.15 percent stake for Rs. 5,655 crore.

After that, Vista Equity Partners has announced that it is also investing in Jio platforms. The company plans to buy a 2.3 percent stake for Rs. 11, 367 crore. Lastly, General Atlantic again equity firm from the US is investing in Jio platforms. The company is buying only a 1.34 percent stake. So far, RIL has sold its 14.8 percent stake of Jio platforms. But, still, industry sources believe that the company might sell more stakes to several companies in the coming days to reduce its debt.