Business Standard
21st May
Rs 67,195 crore: The combined value of the four deals signed by Reliance Jio Platforms since April 22.
- The telecom business of the Mukesh Ambani-promoted Reliance Industries group has announced four deals in less than a month to sell nearly 15% stake to foreign investors
- The biggest of its four deals, with Mark Zuckerberg-led Facebook, involves the sale of 9.99% stake for Rs 43,574 crore
- The other three are with Silver Lake Partners (Rs 5,656 crore for a 1% stake), Vista Equity Partners (Rs 11,367 crore for a 2.3% stake), and General Atlantic (Rs 6,598 crore for a 1.34% stake)
- Since the announcement of the first deal on April 22, the stock of Reliance Industries Ltd (RIL) has risen by Rs 183.23, or 15%, on a net basis. It rose from Rs 1,224.93 on April 21 to a closing peak of Rs 1,562.56 on May 11, before shedding some value to close at Rs 1,408.15 on May 19.
- RIL’s market capitalisation has risen by Rs 1.19 trillion, or over 15%, during this period
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A few links for further reading
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