Here are the biggest developments from the world of tech from the week ending July 3.
RIL has now raised a combined Rs 117,588.45 crore from some of the world’s leading tech investors
Intel is now a strategic investor in Jio Platforms.
Intel becomes second strategic investor in Jio Platforms after Facebook. Reliance Industries digital unit has now raised a total Rs 117,588.45 crore from some of the world’s leading tech investors in exchange for a cumulative 25.09 percent stake.
Vodafone Idea has so far paid Rs 6,854 crore in Adjusted Gross Revenue (AGR) dues against a demand of Rs 58,254 crore from Department of Telecommunications (DoT)
"On the proud occasion of becoming a net debt-free company, I wish to assure them that Reliance in its Golden Decade will set even more ambitious growth goals, and achieve them," Reliance Industries Chairman Mukesh Ambani said.
RIL has shed 24.7 percent stake in Jio Platforms and raised Rs 115,693.95 crore from some of the world’s top investors.
This has pushed Reliance’s digital unit’s investment mop-up to over Rs 1.15 lakh crore.
PIF, one of the world’s largest sovereign wealth funds, will invest Rs 11,367 crore for 2.32 percent of Jio Platforms. Reliance digital unit has raised Rs 115,693.95 crore in exchange for a 24.7 percent stake from some of the world’s top technology investors in 9 weeks.
Reliance Jio: From Facebook to L Catterton, here's a list of all ten investors in Jio Platforms
L Catterton's investment comes in a span of a little less than two hours after private equity investor TPG invested Rs 4,546.80 crore for a 0.93 percent stake.
The latest deal with TPG has pushed Jio Platforms investment mop-up to over Rs 1 lakh crore.
Jio Platforms is a tale of the triumph of chutzpah. When the rest of the world has been cowering, frantic about survival, Jio has put together one of the largest technology funding deals in history
Reliance Jio is offering one-year Disney+ Hotstar VIP subscription to prepaid users who recharge with offer-specific plans.
The stock rallied 80 percent from its March lows against 33 percent upside in the Nifty50, while since the announcement of first deal on April 22, it gained 29 percent.
The deal adds to a pile of funds raised by Jio in recent months and comes on the same day Abu Dhabi-based Mubadala Investment Company invested Rs 9,093.60 crore into Jio Platforms for a 1.85 percent stake
Deal emphasizes Jio’s recession-proof, COVID-resistant nature even as it presents a unique set of technologies and platforms under one entity
The deal will give Mubadala Investment Company 1.85 percent share in Jio Platforms.
KKR transaction values Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore.
KKR's is the fifth such infusion in Jio Platforms as, over the past one month, leading technology investors such as Facebook, Silver Lake, Vista and General Atlantic have announced aggregate investments into the company.
KKR, headquartered in New York, was founded in 1976 by Henry Kravis and George Roberts.
KKR will invest Rs 11,367 crore into Jio Platforms
General Atlantic, which invested Rs 6,600 crore in RIL digital unit, says it will support Jio team as they look to solve needs of Bharat and leverage connectivity
Jio Platforms has raised Rs 67,194.75 crore from technology investor powerhouses such as Facebook, Silver Lake Partners, Vista Equity Partners and General Atlantic in less than four weeks.
JioMart is a blend of digital and neigbourhood physical retail that makes it easy for customers to place orders and encourages stores to get empanelled with Reliance Retail.