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
A few links for further reading
Insecure and uncertain in insurance business as Covid-18 damage claims mount
Insurance companies around the world were sailing smoothly, helped by growth in emerging markets and strong capitalisation. Things changed in late February when markets realised that Covid-19’s impact on insurers could be significant. Insurers are yet to know the full impact of the crisis as governments and regulators nudge them to give moratoriums to policyholders and quickly settle claims too. India’s insurance regulator has set strict deadlines for medical insurers to settle Covid-19 claims. General insurers face damage claims from businesses devastated by the national lockdown to contain the disease. Is insurance secured to survive, Joydeep Ghosh explains
There was a time when pay cuts we see today were a complete no-no; govt and public sector jobs were considered safe, as pay and pensions were both assured. Not any longer, it seems, writes T N Ninan
Quick approval, grace period
The COVID-19 pandemic has brought home the significance of health and life insurance like nothing else earlier. Even those who were blasé about these covers in the past are now looking to buy a new policy or want to enhance the sum insured on their existing ones. Meanwhile, the Insurance Regulatory and Development Authority of India (IRDAI) has been issuing a slew of guidelines to health/general and life insurance companies aimed at easing matters for customers.