Jio Platforms receive over Rs 30K cr from 4 investors

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SME Times News Bureau | 11 Jul, 2020
Reliance Industries on Saturday said that Jio Platforms received subscription amounts of Rs 30,062.43 crore from four investors for 6.13 per cent stake in total.

Among the four investors, Interstellar Platform Holdings (L Catterton) has invested Rs 1,894.50 crore for 0.39 per cent, ThePublic Investment Fund has put in Rs 11,367.00 crore for 2.32 per cent.

SLP Redwood Holdings and SLP Redwood Co-Invest (DE), L.P. (Silver Lake) have invested Rs 10,202.55 for 2.08 per cent and General Atlantic Singapore JP Pte Ltd has put in Rs 6,598.38 crore picking up 1.34 per cent in Jio Platforms.

"We hereby inform that, after receipt of all requisite approvals, Jio Platforms Limited, a subsidiary of the Company, received the subscription amounts from the following investors and allotted equity shares to them," RIL said in a regulatory filing.

The development comes just days after RIL announced that Jio Platforms has received the subscription amount of Rs 43,574 crore from Jaadhu Holdings, LLC, a wholly owned subsidiary of Facebook Inc, which now owns 9.99 per cent stake in Jio Platforms.

Investments of Rs 1.17 lakh crore into Jio Platforms have been announced in the past two months.

On July 3, RIL and Jio Platforms announced that Intel Capital will invest Rs 1,894.50 crore in Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore, which will translate into a 0.39 per cent equity stake in Jio Platforms on a fully diluted basis.