ANOTHER ROUND OF SALE OF STAKE OF RELIANCE JIO
After Facebook and Silver Lake have bought stakes in Reliance Jio , there comes another sale by Reliance Jio of its stake of 2.3%
Reliance Industries Limited (RIL) will sell its stake in Jio of 2.3% to Vista Equity Partners for Rs 11,367 crores. This is the third stake sale by Reliance Jio within a period of 3 weeks.
Earlier Silver Lake (Private Equity) had bought 1.15% stake in Jio for Rs. 5665 crores and Facebook owned by Mr. Mark Zuckerberg had bought 9.99% stake in Jio for Rs. 43,574 crores.
After Facebook and Silver Lake have bought stakes in Reliance Jio , there comes another sale by Jio of its stake of 2.3%.
Hence, the total of these 3 funding’s has raised a total amount of Rs. 60,597 crores for Reliance Jio. All the 3 companies that had invested in Reliance Jio has a very good brand recognition around the globe.
The new deal of Reliance Jio of selling its stake to Vista Equity Partners had led to the increase in price of Reliance Jio by 3%.
Also these deals of raising funds by selling its stake to thee global companies was a part of Reliance scheme (to be debt free) by this year. Also in continuance of this plan to make Reliance debt free, Reliance Industries Limited (RIL) is raising Rs 53,215 crores through rights issue.