OdishaPlus Bureau
Jio platforms has raised 92,202.15 crore from investors in less than six weeks
Silver Lake and its co-investors will invest an additional 4,546.80 crore in Jio Platforms, in addition to the 5,655.75 crores of investment announced on May 4, 2020. This brings the aggregate investment by Silver Lake and its co-investors to 10,202.55 crores. Silver Lake’s investment will translate into a 2.08% equity stake in Jio. So far, Jio has raised 92,202.15 crores from investors in less than six weeks. The transaction is subject to regulatory and other customary approvals.
Mr. Mukesh Ambani, Chairman and Managing Director, Reliance Industries Ltd, said, “Silver Lake and its co-investors are valued partners as we continue to grow and transform the Indian digital ecosystem. 0Silver Lake’s additional investment in Jio Platforms will surely help us grow bigger.”
With approximately $40 billion in combined assets, Silver Lake has made investments in Airbnb, Alibaba, Alphabet’s Verily and Waymo units, Dell Technologies, Twitter, and others. Mr. Egon Durban, Silver Lake Co-CEO and Managing Partner, said, “We are excited to increase our exposure and bring more of our co-investors into this opportunity, further supporting Jio to enable technology for mass consumer and small businesses population.”
