Jio Platforms Received Rs 43,574 Crore From Jaadhu Holdings

Jio Platforms has sold 25.09% of its company stakes and in turn, raised Rs 1.18 lakh crore

jio-platforms-rs43574-crore-jaadhu-holdings

Jio Platforms engaged in an equity deal with Facebook back in April. It was a $5.7 billion (Rs 43,574 crore) deal which would result in Jio giving away a minority stake of 9.99% to Facebook. This deal between Reliance Jio and Facebook is considered as the biggest FDI in India’s tech landscape. Reliance Jio has now received the amount of the deal. Alongside, it has given away a 9.99% stake of its company as well. The money received was from Jaadhu Holdings and the company stakes were also transferred to Jaadhu Holdings.

Reliance Jio Got the Money From Jaadhu Holdings

In a statement to Bombay Stock Exchange (BSE), Reliance Industries Limited (RIL) said, “We hereby inform that, after receipt of all requisite approvals, Jio Platforms Limited, a subsidiary of the Company (Reliance Industries), today received the subscription amount of Rs43,574 Crore from Jaadhu Holdings, LLC (a wholly-owned subsidiary of Facebook Inc). Jio Platforms Limited has allotted equity shares to Jaadhu Holdings following which Jaadhu Holdings holds 9.99% of the fully diluted equity share capital of Jio Platforms Limited.”

It was a very big deal and thus Competition Commission of India (CCI) had overlooked the deal when it was made. But just a few days back, CCI approved the deal implying that everything about the deal is fair. There won’t be more approvals needed as the deal made is below 10% threshold.

Jio Platforms is the leading telecom operator in India with over 400 million subscribers now. It has played a huge role in helping Reliance Industries Limited (RIL) go debt-free. RIL announced a few days back that it has cleared all of its debt with the help of Rights Issue and fundraising from Jio Platforms.

Jio Platforms has sold 25.09% of its company stakes and in turn, raised Rs 1.18 lakh crore. From the Rights Issue, RIL managed to raise 53,125 crores. Apart from Facebook, the other 10 investors in the company are — Mubadala and Abu Dhabi Investment Authority, Silver Lake, General Atlantic, Vista Equity Partners, KKR, L Catterton, TPG, Intel Capital, and Saudi Arabia’s Public Investment Fund (PIF).

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Tanay is someone with whom you can chill and talk about technology and life. A fitness enthusiast and cricketer, he loves to read and write.

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Ravi

Offtopic, amid falling user base , voda idea promoters discuss if it makes sense to carry on.

Hope TT and Tarun and team post article on this!!!!!

Ravi

Looks like you r getting offended by me asking to post article on this news update. Voda idea is not in good spirit that is known to the world but this is something new and should be introspected from media site like you. If not this much, atleast post reference article of ET. Also I have seen previous articles too. They are soft on headline and far distant from actual situation of the company. First all best possible postive stuff is posted then followed by mildly twerked negative. Where as original article or news is horrendous and depict actual scenario.… Read more »

Chetan-Bengaluru

Interesting conversation happening let me jump in. Sri, If there is any element of surprise or Climax in VOda idea story as per you which is remaining for last end, then company wouldn’t have pledged indus 11% stake to banks to pay for DOT spectrum bank guarantee in march. pledged 4300 crore worth of stake to pay for 1890 crore of bank guarantee…. LOL . Promoters are just leaving the company to bleed to death. If you ignorant then we are not. Any external investor would look at basic hygiene of company where it can return its investment either in… Read more »

Chhota Chetan

Ok boomer! If you don’t agree with the editorial stance because of your apparent bias, go start your own portal.

You have been the naysayer number one predicting fall of Vodafone Idea *any minute now* since the merger. What’s the source? Some mausi ke bete ke chacha ka ladka. If it falls, it falls and we’ll know it. Get a life.

Chetan-bengaluru

TT Team, I can sniff this comment to be written by you. Better use professional tactics to debate.

Chakri K

Hah! Never ever. Am the only Editor and I can assure you I will never use such tactics. Want to debate? I can have it anytime. We can even talk on WhatsApp, Chethan like am speaking with several other readers since years.

Kunal

As per analysts , Jio sales to increase by 6 % in the period April to June quarter , that is during lock down as compared to its Jan to march quater. profits will jump by 11% helped by price increase done in December & new subscriber addition. Jio will be the only operator to record growth . Both older Telco’s will have de- growth due to lock down as most of its 2g base could not recharge in the period. Numbers show that ,still Jio remains the most popular network in India & it’s decision to charge 6 paise… Read more »

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