Ambani's Jio Receives $4 Billion Payment For Stake Sales

Andrew Cummings
July 13, 2020

USA chipmaking giant Qualcomm's venture arm has invested Rs 730 crore (approximately $97 million) in Jio Platforms for a 0.15 percent stake.

So far, Jio Platforms has received Rs 73,636.43 crore for 16.12 per cent stake for Jio Platforms.

The latest round in the series of record investment raised by Mukesh Ambani, who recently surpassed Warren Buffett on Bloomberg Billionaires Index, brought the total funding amount in Jio Platforms to Rs 1,18,318.45 crore (Rs 1.18 lakh crore).

"Jio Platforms Ltd has allotted equity shares to Jaadhu Holdings following which Jaadhu Holdings holds 9.99 per cent of the fully diluted equity share capital of Jio Platforms Ltd", the company had said on July 7. The Public Investment Fund paid ₹11,367 crore for a 2.32% stake while Silver Lake units - SLP Redwood Holdings Pte Ltd and SLP Redwood Co-Invest (DE), L.P. - have bought 2.08% stake for ₹10,202.55 crore.

Facebook, Silver Lake, Vista, General Atlantic, KKR, Mubadala, Silver Lake, ADIA, TPG Capital, L Catterton, and Public Investment Fund are the 11 companies that announced 12 investments in Jio Platforms for 25.09 per cent stake. is part of Network18 Media & Investment Limited which is owned by Reliance Industries Limited that also owns Reliance Jio. The US company will support Jio in its rollout of 5G infrastructure and services for Indian customers, RIL added.

"With unmatched speeds and emerging use cases, 5G is expected to transform every industry in the coming years".

"With our shared goal of extending the benefits of digital connectivity to everyone and everything, we anticipate Jio Platforms will deliver a new set of services and experiences to Indian consumers", said Steve Mollenkopf, CEO of Qualcomm Incorporated".

" Qualcomm has been a valued partner for several years and we have a shared vision of connecting everything by building a robust and secure wireless and digital network and extending the benefits of digital connectivity to everyone in India", said Mukesh Ambani, chairman and managing director for Reliance Industries.

RIL said the transaction is subject to regulatory and other customary approvals.

Earlier this month, the investment arm of computer chip giant Intel Corp picked up 0.39 per cent stake for Rs 1,894.50 crore.

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