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A US-Based Firm To Invest 11,367 Crores In Jio Platforms
By: Tupaki Desk | 8 May 2020 11:05 AM GMT
Vista Equity Partners, an United States(US) based firm will be investing a huge amount of 11,367 crores in the Jio Platforms, owned by Mukesh Ambani. This will translate to an equity stake of 2.32 percent.
This marks the third deal of the Jio platform which recently struck a deal with Facebook for a deal of Rs 43,574 crore, which enjoys a share of 9.99 percent stake in the Jio Platforms.
Following this announcement, the share value of the Reliance Industries increased by around 3 percent. The Reliance Industries witnessed a dip of 39 percent net profit which is Rs 6,348 after the oil prices went down last month.
The Vista Equity company is known for its investments in sophisticated tech companies which is doing the same since the last decade. This is the first ever investment of the firm in India.
This marks the second highest investment in Jio Platforms after Facebook's investment in the company.
This marks the third deal of the Jio platform which recently struck a deal with Facebook for a deal of Rs 43,574 crore, which enjoys a share of 9.99 percent stake in the Jio Platforms.
Following this announcement, the share value of the Reliance Industries increased by around 3 percent. The Reliance Industries witnessed a dip of 39 percent net profit which is Rs 6,348 after the oil prices went down last month.
The Vista Equity company is known for its investments in sophisticated tech companies which is doing the same since the last decade. This is the first ever investment of the firm in India.
This marks the second highest investment in Jio Platforms after Facebook's investment in the company.
