US private equity company Silver Lake Partners has bought a one 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.
Mukesh Ambani gave a statement
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.
Debt relief scheme
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.
Deals between Geo-Facebook
It is known that this is the second deal of Jio platform 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.
Three crore shopkeepers will benefit
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. That is, customers will be able to easily deliver and order goods everyday from the local shops near the house.
Today, Reliance shares saw a decline. After opening at the level of 1440, it fell 26.20 points or 1.79 per cent to reach the level of 1439.80 at 9.59 am. Whereas it closed at 1466 on the previous trading day.
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