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Intel to invest $253.55 million in Jio Platforms

American multinational corporation and technology company, Intel will pick up 0.39 percent stake in Reliance Industries Ltd arm Jio Platforms for $253.55 million. The investment from Intel Capital comes after Facebook, General Atlantic, and Silver Lake picked up stake in recent months. The deal has valued Jio Platforms at $65 billion. Jio Platforms has raised […]

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Business

Reliance Industries now net debt-free, announces chairman Mukesh Ambani

Reliance Industries (RIL) chairman Mukesh Ambani on Friday announced that the record investments the company received from some of the world’s top financial investors in its digital unit Jio Platforms and a mega share sale helped it become net debt-free well ahead of the March 2021 target. “Today I am both delighted and humbled to […]

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Business

Saudi Arabia’s PIF to invest $1.49 billion in Reliance Jio

Saudi Arabia’s Public Investment Fund (PIF) will buy a 2.32% stake in Reliance Industries’ digital unit Jio Platforms for INR₹ 11,367 crore $1.49 billion, the firm said in a statement. The deal with the Saudi sovereign wealth fund means Reliance has now sold 24.7% of Jio Platforms and raised just over $15 billion from investors […]

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American investment company, TPG buys 0.9% stake in Jio Platforms for ₹4,547 crore

Reliance Industries said on Saturday that US-based TPG will buy a 0.93 per cent stake in its digital services arm Jio Platforms for Rs 4,546.80 crore. This marks the ninth investment in Jio Platforms – which houses billionaire Mukesh Ambani-led Reliance Industries’ telecoms arm Reliance Jio Infocomm – within eight weeks. With the TPG deal, […]

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Business

Mubadala to invest Rs 9,093 crore for a 1.85% in Jio Platforms

Reliance Industries Limited (RIL) on June 5 said Mubadala Investment Company, the Abu Dhabi-based sovereign investor, will invest Rs 9,093.60 crore in Jio Platforms for a 1.85 percent equity stake on a fully diluted basis. This will be the sixth investment in RIL in quick succession, following those by social media major Facebook, private equity […]