With this deal, Reliance Jio has managed to raise Rs 67,194.75 crore in less than four weeks.
Reliance Industries shares gained more than 1 per cent on the NSE after the US-based private equity firm General Atlantic decided to invest Rs 6,598.38 crore for a 1.34 per cent stake in Jio Platforms. The deal, announced on Sunday evening, marks Jio Platforms' fourth major deal with a US-based technology investor within a month, following investments from internet major Facebook and private equity companies Silver Lake and Vista Equity Partners. At 9:25 am, the shares of Reliance Industries were trading at Rs 1,471, higher by Rs 12 or 0.8 per cent, on the BSE. The shares had opened at Rs 1,470 and touched an intra-day high of Rs 1,482 and a low of Rs 1,459 thus far.
The U.S.-based private equity fund's agreement to take a 1.3 per cent stake sets an enterprise value of Rs 5.16 trillion for the digital services business of Ambani's Reliance Industries Ltd, Reliance Industries said.
With this latest deal, Reliance Jio has managed to raise Rs 67,194.75 crore in less than four weeks. The four deals will help Reliance Industries group pare its debt and become a net debt-free company by 2021, in line with the dream of Mukesh Ambani.
General Atlantic is an US investment firm, which in the past has been an early investor in the likes of Airbnb Inc. and Uber Technologies Inc.
