After the giant IT Company Facebook, the US-based investment company General Atlantic has announced the purchase of a 1.34 percent stake in Jio Platforms, a subsidiary of Reliance Industries Limited (RIL). The American company will invest Rs 6,598.38 cr for this. Mukesh Ambani’s company released this statement on Sunday.
This is General Atlantic’s largest investment in any Asian company. In less than four weeks, Jio Platforms has raised Rs 67,194.75 cr from biggies like Facebook, Silver Lake Partners, Vista Equity Partners, and General Atlantic.
In a statement issued by Jio Platforms, it said that the investment is going to reinvigorate Jio’s next-generation software product and platform.
Earlier, Facebook had bought a 9.99 percent stake in Jio Platforms for Rs 43,574 cr. Within few days of the deal, the world’s largest tech investor Silver Lake bought a 1.15% stake of Jio for Rs 5,665.75 cr.
While on May 8, Vista Equity Partners of America announced the purchase of a 2.32 percent stake in Jio Platforms for Rs 11,367 cr.
The investment of these companies will help Reliance Industries to become debt-free.
“With this investment, Jio Platforms has raised Rs 67,194.75 cr. through major tech investors such as Facebook, Sliver Lake, Vista Equity Partners and General Atlantic within four weeks,” a statement issued by Jio Platforms said.
On one hand, the lockdown in the world is being continuously pushed forward and on the other hand Reliance, Jio is constantly getting investors. Mukesh Ambani attracted investors from all over the world to invest in the company in this lockdown.
- On 22 April, Facebook invested 43,574 crores in Jio
- Jio’s equity value 4.91 lakh crore and enterprise value 5.16 lakh crore
- Vista Equity Partners also invests Rs 11,367 crore in Jio Platforms
- US private equity firm Silver Lake invests 5656 crore
- General Atlantic will invest 6598 crores in Jio