December 4, 2023

Paull Ank Ford

Business Think different

RIL closes four Jio stake sale deals, receives Rs 30,062 cr from investors

After Fb Inc, Reliance Industries has closed deals to market a minority stake in its electronic arm to 4 other investors, getting a complete of around Rs thirty,062 crore.

In a regulatory submitting, Reliance said it has closed the sale of 6.13 for every cent stake in Jio Platforms with L Catterton, The Public Expense Fund, Silver Lake and General Atlantic.

Reliance had bought a complete of 25.09 for every cent stake in the subsidiary which houses India’s youngest but biggest telecom agency, Jio, to eleven investors for Rs 1,seventeen,588.45 crore.

It had earlier this 7 days closed the deal with the major investor Fb when it received Rs forty three,574 crore from Jaadhu Holdings, LLC (a wholly-owned subsidiary of Fb Inc).

ALSO Read through: Jio Platforms will get Rs forty three,574 crore from Fb for 9.ninety nine% stake sale

“Jio Platforms Ltd has allotted equity shares to Jaadhu Holdings next which Jaadhu Holdings retains 9.ninety nine for every cent of the fully diluted equity share money of Jio Platforms Ltd,” the organization had said on July 7.

Now, Interstellar Platform Holdings Pte Ltd of L Catterton has paid out Rs 1,894.50 crore for a .39 for every cent stake in Jio Platforms. The Public Expense Fund paid out Rs eleven,367 crore for a two.32 for every cent stake though Silver Lake units — SLP Redwood Holdings Pte Ltd and SLP Redwood Co-Spend (DE), L.P. — have acquired two.08 for every cent stake for Rs 10,202.fifty five crore.

General Atlantic Singapore JP Pte Ltd has acquired 1.34 for every cent for Rs 6,598.38 crore.

“We hereby advise that, immediately after receipt of all requisite approvals, Jio Platforms Minimal, a subsidiary of the organization, received the subscription quantities” from the 4 investors, it said.