Jio Platforms receives over Rs 30,062.43 cr from four investors

A total of 11 global investors are buying about a 25.09% stake in Jio Platforms for Rs 1.18 lakh crore.

Jio Platforms has received all the approvals for its stake sales to L Catterton, PIF, Silver Lake and General Atlantic Singapore, and has got a total of Rs30,062.43 crore for 6.13% stake.

“ We hereby inform that, after receipt of all requisite approvals, Jio Platforms Limited, a subsidiary of the Company, received the subscription amounts from the following investors and allotted equity shares to them,” Reliance Industries said in a late Friday night statement .

Interstellar Platform Holdings Pte. Ltd. (L Catterton) had put in Rs 1,894.50 crore for 0.39%, PIF had taken 2.23% equity for 11,367 crore ; SLP Redwood Holdings Pte. Ltd. and SLP Redwood Co-Invest (DE), L.P. (Silver Lake) had invested Rs 10,202.55 crore for 2.08% and General Atlantic Singapore had picked up 1.34% for Rs 6,598.38 crore in Jio Platforms.

Before this, Facebook’s Rs 43,574 crore has also come into for approximately 9.99% stake in Jio Platforms Limited (Jio Platforms) by Jaadhu Holdings LLC (Jaadhu).

Jio Platforms houses RIL’s telecom business under Reliance Jio Infocomm, the largest in the country with nearly 400 million subscribers, besides other digital properties and investments.

So far , 11 global investors that are buying a total 25.09% stake in Jio Platforms for Rs 1.18 lakh crore. These investments, along with Rs 53,124 crore from a rights issue, are helping RIL achieve its aim of becoming net debt free.

Besides Facebook, other 10 investors include Abu Dhabi’s two largest sovereign investment arms, Abu Dhabi Investment Authority and Mubadala, along with private equity firms Silver Lake, Vista Equity Partners, General Atlantic, KKR, TPG, L Catterton, Saudi Arabia’s Public Investment Fund (PIF) and Intel Capital.