The RIL rights issue, which opened on May 20, gave investors nearly the same opportunity – the chance to make about 80 percent returns.
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
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
A Disney+ Hotstar VIP subscription offers users the latest episodes of Indian TV shows at 6 am every day. Other than that, users also get Disney+ content and exclusive Hotstar specials.
Mubadala’s investment will translate into a 1.85 percent equity stake in Jio Platforms on a fully diluted basis.
During the pilot project across Navi Mumbai, Thane, and Kalyan, Jiomart went live last month with a WhatsApp business account.
“While Beijing has abused the free market in order to destroy it, America must harness the free market to protect our freedom and national security,” Haley, a former Governor of South Carolina and US Ambassador to the United Nations said in an op-ed on Medium.
First, Facebook, then Vista and Silver Lake, and now General Atlantic. Jio continues to be a big draw for technology investors. The zero-debt goal for RIL has just got more fuel.
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.
Vista deal a ringing endorsement of the opportunity presented by digital India and the execution/tech capability of Reliance Industries to take advantage of said opportunity
Jio Platforms has now raised a massive Rs 60,596 crore from leading technology investors in less than three weeks
With the announcement of rights issue, the company appears to be on track to meet its goal of net zero debt by the end of the current fiscal year.
According to BIF, the partnership between Facebook and Jio could be beneficial to over 50 million micro, small and medium businesses, about 30 million small merchants, millions of small and medium enterprises in the informal sector and 100 million farmers across India.
JioMart is currently available in Kalyan, Thane and Navi Mumbai near Mumbai, and is expected to cater services to other parts of the country soon.
Here are the biggest developments from the world of tech from the week ending April 26.
Reliance Retail, RIL's retail arm, has also partnered with Facebook's WhatsApp to allow RIL's e-commerce business users to use the WhatsApp platform.
Our back-of- the- envelope calculations suggest that net debt can decrease by 80 percent if the inflows from the deals with Facebook, Aramco and BP are used to deleverage.