Reliance Jio Likely To Have Two More Investors In the Coming Days: Report

It seems that Reliance Jio is likely to garner more funds as two companies might invest in its platform in the coming days. Now, it has been reported that the US-based private equity firm General Atlantic is expected to invest about $850 million to $950 million in the Jio platforms.

On the other hand, a company called Saudi Arabia's Public Investment Fund (PIF) is also planning to buy a minority stake in Reliance Jio, reports Bloomberg. However, the amount is unknown, but the report claims that the deal is expected to close soon.

Besides, the company claims that Saudi Arabia is likely to buy a stake in Reliance Industries Limited with an investment of $15 billion. This report comes at that time when Reliance Jio has already sold its stake to three companies. Furthermore, the report states that any other stake selling deal will increase the valuation of the company in the industry.

Reliance Jio Sells Its Stake To Three US Firms: Details

If we talk about its three deals, then the operator has so far sold its stake to Facebook, Silver Lake, and Vista Equity Partner. The telco, which has 388 million customers on its platform, has announced that Vista Equity Partners is buying its 2.3 percent stake for Rs.11.367 crore.

"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. Jio Platforms has now raised Rs. 60,596.37 crore from leading technology investors in less than three weeks," Jio said while announcing its deal with Vista.

Secondly, a deal with Facebook is so far the largest investment by any company for buying a minority stake in the Indian company. The US-based social media giant is investing Rs. 43.574 crore for only 9.99 percent stake in Reliance Jio.

Lastly, there's an investment from Silver Lake Partners, where it is investing Rs. 5,655 crore for only 1.15 percent stake. It is worth mentioning here that these three are technology-driven companies, and these deals will help Reliance Jio to establish its foot in the tech sector.

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