Jio Platforms has received Rs 33,737 cr from Google after the CCI approved the search giant picking up 7.73% stake in the Reliance Industry owned platform. It is Google’s biggest-ever investment in an Indian company. The approval is also a green light to Google’s joint effort of developing entry-level Android smartphones. Jio Platforms will soon get all the funds from its 13 investors who together had injected Rs 1,52,056 cr for a cumulative equity stake of 32.96%.
Intel Capital and Qualcomm Asia Pacific have pumped Rs 2625.50 Crore in Jio Platform – the digital arm of Mukesh Ambani-led conglomerate. Intel has invested Rs 1894.50 Cr and hence has acquired a 0.39% equity stake in Jio Platforms. Qualcomm, on the other hand, has invested Rs 730 Crore, getting 0.15% equity stake. These investments were part of Jio Platforms’ over Rs 1.52 L Cr fund raising exercise by divesting minority stake to multiple tech firms.
RIL, to bolster its presence in the e-commerce business, is in talks to acquire online furniture brand Urban Ladder and milk delivery platform Milkbasket, the TOI reported. The discussion with Urban Ladder is reportedly at an advanced stage with the deal price being $30M, including further infusion in the business and earn-out for the management team. Milkbasket, after failing to fructify discussion with Amazon and Bigbasket, is inching closer to RIL.
Qatar Investment Authority’s proposal to invest $1.5B in JioFiber is gathering pace, reported Mint. The deal talks between QIA and RIL are now at an advanced stage. RIL has already raised over $20M via Jio Platform’s stake sales. It is now looking to monetize its fibre assets. As of now, Citigroup Global Market, Moelis and Co, ICICI Securities Ltd have proposed investments. RIL aims to take space in every sector. It is also confident of its 5G services.
Reliance, together with Google, will develop affordable, entry-level smartphones that will run on Google’s Android-based operating system. Thus, it will enable users to access Google Play store. They can download family apps such as Gmail, Google Maps, Hangouts etc. This initiative benefits both customers and the Indian economy. Reliance earlier launched JioPhone and JioPhone 2. This time, the firm will work to offer a more powerful smartphone experience.
ADIA has invested Rs 5,693 cr in Jio Platforms acquiring 1.16% stake in the Indian telecom firm. This is the eight investment in less than seven weeks bagged by Jio Platforms. RIL has now sold 21% of Jio’s stake, raising INR 97,885.65 crore. This investment translates into Rs 4.91 L crore equity stake, Rs 5.16 L crore enterprise stake. Till now, Facebook, KKR, Silver Lake (twice) etc have purchased stakes in Jio with Facebook’s share being the highest – 9.99%.
Saudi Arabia’s Public Investment Fund is reportedly planning to buy 2.33% stake, worth $1.5 B, in RIL’s Jio Platforms. If PIF comes on board, Jio Platforms will have diluted 25% of its equity. Any new investors in future will be the strategic ones. Jio Platforms in less than 8 weeks has sold 22.38% stakes to investors like Facebook, KKR, TGP etc, securing Rs 104,326.95 crores.
Jio Platforms will raise another Rs 6,441.3 cr by selling a combined 1.32% to US private equity firms TPG (0.93%) and L Catterton (0.39%), eighth and ninth investments in the past seven weeks. RIL, after the latest investment, will get Rs 1,04,326.95 cr from the nine investors in exchange for 22.38% stake. The stake sales and the Rs 53,124 cr from a rights issue will meet its zero net-debt targets by March 2021.