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Received 'strong interest' from global investors for a Facebook-type deal for Jio Platforms, RIL says

Reliance said, "In addition to the Facebook investment, the Board was informed that RIL has received strong interest from other strategic and financial investors and is in good shape to announce a similar sized investment in the coming months."

April 30, 2020 / 07:59 PM IST

Following Facebook's 9.9% stake buy for Rs 43,574 crore, other global investors are making a beeline for similar deals with Jio Platforms, Reliance Industries (RIL) said.

Reliance said, "In addition to the Facebook investment, the Board was informed that RIL has received strong interest from other strategic and financial investors and is in good shape to announce a similar sized

investment in the coming months."

RIL announced its fourth quarter ended March 31, 2020 results on Thursday. The company registered a net profit of Rs 6,348 crore.

Also Read | Reliance Jio Q4: Net profit at Rs 2,331 crore, up 177% YoY

Facebook's investmenet in Jio Platforms put the telecom major in India's top five companies by market capitalisation within four years of its launch.

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"This is the largest investment for a minority stake by a technology company anywhere in the world and the largest FDI in the technology sector in India," it had said.

(Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd)
Moneycontrol News
first published: Apr 30, 2020 07:59 pm

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