Google may invest in Jio: From FB to Qualcomm, here are 12 others that already have
Technology giant Google is reportedly in talks with Jio Platforms for an investment of $4 billion. The two companies are reportedly in an advanced stage of talks. If the deal -- which is expected to be announced in a few weeks -- goes through, Google will be the thirteenth investor in the company.
Here are the 12 companies that have already invested in Jio Platforms so far.
1. Facebook was the first company to invest in Jio platforms in April, where it announced that it will be acquiring a 9.99% stake in the company. Jio Platforms received an investment of Rs 43,574 crore investment from the social media firm earlier this month, Reliance Industries said in regulatory filing.
The deal between Jio Platforms and Facebook was announced on April 22.
2. Within days of the Facebook deal, Silver Lake, considered one of the world's largest tech investors, bought a 1.15% stake in Jio Platforms for Rs 5,665.75 crore.
The company later invested an additional Rs 4,546.80 crore in Jio Platforms to raise its stake to 2.08%.
3. On May 8, US-based Vista Equity Partners, a leading global investment firm, bought a 2.32% stake in Jio Platforms for Rs 11,367 crore.
"We are excited to leverage the professional expertise and multi-level support that Vista has been offering to its investments globally for the benefit of Jio," Reliance Industries Limited (RIL) Chairman and Managing Director Mukesh Ambani had said at the time.
4. This was followed by global equity firm General Atlantic picking up 1.34% stake in Jio Platforms for Rs 6,598.38 crore on May 17. The investment in Jio Platforms was touted to be General Atlantic's largest investment in Asia.
5. On May 22, Reliance Industries announced the sale of a 2.32% stake in Jio Platforms to US private equity giant KKR for Rs 11,367 crore, clinching a fifth deal in four weeks.
At the time, Henry Kravis, Co-Founder of KKR, said, "Jio Platforms is a true homegrown next-generation technology leader in India that is unmatched in its ability to deliver technology solutions and services to a country that is experiencing a digital revolution."
6. In its sixth deal, the company announced the sale of 1.85% stake to Abu Dhabi-based sovereign investor Mubadala for Rs 9,093.60 crore.
"Mubadala Investment Company (Mubadala), will invest Rs 9,093.60 crore in Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore," the company had said in a statement.
7. On June 7, RIL said that it had sold 1.16% stake in Jio to the Abu Dhabi Investment Authority (ADIA) for Rs 5,683.50 crore, taking the cumulative fund raising by that point to Rs 97,885.65 crore.
8. Global investment firm TPG Capital on June 13 picked up 0.93% for Rs 4,546.80 crore. TPG said that it is making the investment from its TPG Capital Asia, TPG Growth, and TPG Tech Adjacencies (TTAD) funds.
9. Around the same time, private equity firm L Catterton bought 0.39% for Rs 1,894.50 crore. L Catterton has previously invested in brands such as Peloton, Vroom, ClassPass, Owndays, FabIndia, and more.
10. On June 18, it was reported that Saudi Arabia's Public Investment Fund (PIF) picked up a 2.32% stake for Rs 11,367 crore. This was said to be PIF's largest investment into the Indian economy to date.
11. In the first week of July, RIL announced that the investment arm of microchip giant Intel, Intel Capital, had invested Rs 1,894 crore in Jio Platforms, picking up a stake of 0.39%.
12. This was followed by an investment by Qualcomm, another wireless technology leader, which invested Rs 730 crore to acquire a stake of 0.15%.
Jio said that the investment would help with the rollout of advanced 5G infrastructure and services in India.
Proceeds from the stake sales in Jio Platforms -- which have exceeded Rs 1.18 lakh crore in less than 3 months, also helped the company become net debt-free. After the investment from PIF, RIL announced on June 19 that it is now net debt-free. The company’s net debt, as of March 21, 2020 was Rs 161,035 crore.
Apart from investments in Jio Platforms, RIL raised Rs 53,124.20 crore via a Rights Issue and also sold a stake to BP in the petro-retail JV, making total fund raise into the company in excess of Rs 1.75 lakh crore.
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PTI inputs