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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

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 […]

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Business

Equity giant KKR invests ₹11,367 crore in Jio Platforms

Reliance Industries on Friday announced the sale of a 2.32 per cent stake in its digital arm to US private equity giant KKR for Rs 11,367 crore, the fifth deal in four weeks that will inject a combined Rs 78,562 crore in the oil-to-telecom conglomerate to help it pare debt. This is KKR’s largest investment […]

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Business

US-based Vista Equity Partners invests ₹11,367 crore in Reliance’s Jio Platforms

After Facebook and Silver Lake, US-based Vista Equity Partners will invest Rs 11,367 crore into Jio Platforms for a 2.32 per cent stake, making it the third high profile investment in Reliance Industries Limited (RIL) unit. Vista’s investment is at a 12.5 per cent premium over the Facebook deal announced in April. “This investment values […]

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Business

Reliance Industries profit dropped 39% to ₹6,348 crore in Match quater

Reliance Industries’ net profit dropped 39 per cent to Rs 6,348 crore in March quarter on the back of slump in crude oil prices amid outbreak of COVID-19, the company said in exchange filing on Thursday. The company had reported profit of Rs 10,362 crore in the same quarter last year. Revenue of Mukesh Ambani-led […]