Reliance Industries Sold Over 25% Stake In Jio For Rs 1.18 Lakh Crore Through These 12 Deals

Since April 22, billionaire Mukesh Ambani-led Reliance Industries Limited (RIL) has announced 12 deals to sell more than 25 per cent stake in its digital services arm, Jio Platforms. Together, the deals have helped the country's most valuable company to raise about Rs 1.18 lakh crore. US-based Facebook's capital infusion of Rs 43,573.62 crore for a 9.99 per cent stake in Jio Platforms, which houses Reliance Industries' telecoms arm Reliance Jio Infocomm, is the biggest among these transactions. The internet giant is followed by US-based private equity firms Vista and KKR, and Saudi Arabia's Public Investment Fund, each of which have committed to take a 2.32 per cent stake in Jio Platforms for Rs 11,367 crore. 

Since April 22, billionaire Mukesh Ambani-led Reliance Industries Limited (RIL) has announced 12 deals to sell more than 25 per cent stake in its digital services arm, Jio Platforms. Together, the deals have helped the country's most valuable company to raise about Rs 1.18 lakh crore. US-based Facebook's capital infusion of Rs 43,573.62 crore for a 9.99 per cent stake in Jio Platforms, which houses Reliance Industries' telecoms arm Reliance Jio Infocomm, is the biggest among these transactions. The internet giant is followed by US-based private equity firms Vista and KKR, and Saudi Arabia's Public Investment Fund, each of which have committed to take a 2.32 per cent stake in Jio Platforms for Rs 11,367 crore. 

Here are details of 12 deals with Jio Platforms announced by Reliance Industries within 11 weeks:  

The sale of more than 25 per cent in Jio Platforms along with a rights issue worth over Rs 53,000 crore have helped Reliance Industries become net debt-free much earlier than its target of March 2021.

Reliance Industries is now "in its golden decade", chairman and managing director Mr Ambani had said last month, as his group reached the milestone. "I have fulfilled my promise to the shareholders by making Reliance net debt-free much before our original schedule of 31st March 2021," he had said.