Foreign investment in Jio Platforms hits 20%, netting $12bn for Reliance Industries

Jio Platforms has received a flurry of investment from US and UAE based investors
Reliance Jio, India, Telecoms, Digitalisation, Investment


Reliance Industries, the parent company of India’s biggest telco Reliance Jio, has confirmed that overseas investment into its digital platform unit have hit 20 per cent, raising more than $12 billion.  

Jio Platforms has received a swathe of investments in the past six months from a host of tech companies and investment funds, predominantly based in the US.

Social media giant Facebook invested $5.7 billion for a 9.99 per cent stake in Jio’s digital platform, as the company prepares to launch a raft of pay services across its Facebook Messanger, WhatsApp and Instagram services in India.

Over the weekend, US wealth fund Silver Lake increased its initial investment in Jio Platforms to take its total holding to 2.08 per cent.

UAE based investment firm Mubadala also invested $1.2 billion for a 1.85 per cent stake in Jio Platforms.

“I am delighted that Mubadala, one of the most astute and transformational global growth investors has decided to partner us in our journey to propel India’s digital growth towards becoming a leading digital nation in the world,” Mukesh Ambani, chairman and MD of Reliance Industries, said in a statement.

In May, US firm Vista Equity Partners invested $1.5 billion. In total, Reliance industries has received more than $12 billion, selling off 20 per cent of its stake in Jio Platforms.

The money raised will be used to pay down the debt of Reliance Industries and fast track Reliance Jio’s 5G efforts.  

REGISTER NOW | Webinar Event | Security you can bank on – Safeguarding the Middle East’s financial sector

Presented in partnership with security and network specialist Cybereason, the second in the three part webinar series will bring together a panel of experts to discuss how banks and financial institutions are evolving their service offering while simultaneously staying one step ahead of the cyber criminals who seek to bring their operations crashing to the ground.

Editor's Choice

Emerson expands analytics platform for industrial enterprise-level wireless infrastructure management
Plantweb Insight platform adds two new Pervasive Sensing applications that manage wireless networks more efficiently with a singular interface to the enterprise
Digitalisation seen as a competitive advantage by Middle East private businesses
Nearly 80 per cent of private business leaders acknowledge that digitalisation can impact business sustainability
Etisalat introduces Multi-Access Edge Computing architecture delivering best-in-class video streaming performance for 5G networks
MEC architecture achieves performance gains of as much as 90% in video streaming, validating how ultra-low-latency applications will be delivered over 4G and 5G networks

Most popular

Don't Miss a Story