Breaking news

A new line of argument has already come to dominate the public sphere: it’ more The government has gone one step further to detect community spread of the more The government has issued an order to abolish the six allowances, including more Aarogya Setu application launched by NIC is aimed to track COVID-19 affected more SEOUL| South Korea’s unemployment rate was unchanged in April as the more Amid the outbreak of Corona pandemic in the country, Indian government has more Prime Minister Narendra Modi in his address to the nation on Tuesday indicated more Corona infection in the country is taking a macabre form. So far, more than 74 more Congress General Secretary Priyanka Gandhi Vadra has written a letter to UP more On Tuesday, Prime Minister Narendra Modi announced a package of Rs 20 lakh more

American Equity Giant Silver Lake Buys 1.15% Stake in Jio

Jio Silverlake Deal

US private equity company Silver Lake Partners has bought a 1.15 per cent stake in Reliance Industries’ Jio Platforms. Silver Lake will invest Rs 5,655.75 crore in Jio Platforms.

With this investment, the equity value of Jio platform is Rs 4.90 lakh crore and the enterprise value is 5.15 lakh crore. In this context, Reliance and Jio said that this investment represents a 12.5 per cent premium to the equity valuation of investments made by Facebook.

On this deal, Reliance Industries Chairman Mukesh Ambani said, ‘The Silver Lake firm has a great record of partnerships with the leading technology companies around the world. Silver Lake Company is very popular in terms of technology and finance.

Reliance currently has a debt of around Rs 3.5 lakh crore. In August last year, Mukesh Ambani had said that his company would be completely debt free by 18 months i.e. by March 2021. For this, the company is making every effort to raise funds. For this, Reliance had recently announced the country’s largest rights issue, which is worth Rs 53,125 crore.

This is the Jio platform’s second deal less than two weeks after the deal with Facebook. Earlier, on April 22, social media giant American company Facebook had signed an investment of $ 5.7 billion, or Rs 43,574 crore, to buy a 9.99 per cent stake in Reliance Industries Group company Jio Platforms Ltd, led by Mukesh Ambani.

The combined power of Jio’s world-class digital connectivity platform and Facebook’s relationships with the Indian people will introduce new innovations for all of you in the future. Jio Mart and Jio’s new digital business platform will benefit from this with WhatsApp. Three crore shopkeepers will get the benefit. This will provide quick and good digital transaction platform to both shoppers and customers.

RIL remarked that the investment 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” and that it will accelerate “India’s all-round development, fulfilling the needs of Indian people and the Indian economy.”

Story Page