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US Firm Buys ₹11,367 Cr Stake In Jio Platforms
Mail Today
|May 23, 2020
Billionaire Mukesh Ambani-led Reliance Industries on Friday said US private equity giant KKR is buying a 2.32 per cent stake in its Jio Platforms for Rs 11,367 crore, taking the total amount of fresh funds raised by the digital platform in a month to a staggering Rs 78,572 crore.
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Jio Platforms has been on a fundraising spree this past month selling a combine stake of 17.12 per cent across five deals, including one where Facebook picked up a 9.99 per cent stake in the firm for Rs 43,574 crore.
With Jio Platforms’ plan of getting strategic and financial investors to form 20 per cent of its investments, another deal may be likely.
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