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The Silver Lake To Finance Reliance Jio With Rs 5,655.75 Crore

The US social networking company, Facebook, announced on 22 April that 9.9% of its Rs 43,574 crore stake in Jio Networks

On Wednesday (4 May), Billionaire Mukesh Ambani’s Reliance Industries Ltd. (RIL) revealed the allocation of Rs 5,655.75 in the Jio channels to the private equity firm Silver Lake. The investment valuation is Rs 4.90 lakh crore and Rs 5.15 lakh crore. Jio network is money.

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Silver Lake is a 12.5 per cent stake prime for the valuation of Jio Platforms, a fully owned RIL affiliate of social networking app Facebook acquisition.

“Jio Platforms is one of the world’s most remarkable companies, led by an incredibly strong and entrepreneurial management team who are driving and actualising a courageous vision … the market potential they are addressing is enormous, and we are honoured and pleased to have been invited to partner with Mukesh Ambani and the team at Reliance and Jio to help further the Jio mission,” said Egon Durban, the Co-CEO and Managing Partner of The Silver Lake.

Jio Platforms is a wholly owned subsidiary of Reliance Industries Limited that deals with technology of the next decade. A fully held subsidiarity of Jio Networks will continue to be Dependency Jio Infocomm, which provides a networking network for more than 388 million subscribers.

The US social networking company, Facebook, announced on 22 April that 9.9% of its Rs 43,574 crore stake in Jio Networks would lead to RIL debt reductions. Analysts believe this will help.

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In a statement, Mukesh Ambani said, “Silver Lake has an outstanding record of being a valuable partner for leading technology companies globally. Silver Lake is one of the most respected voices in technology and finance. We are excited to leverage insights from their global technology relationships for the Indian Digital Society’s transformation.”

The deal shall be subject to standard and administrative approvals. The investment further demonstrates RIL’s ability and desire to monetize its digital services sector, Moody’s Investors Service said, and reinforces RIL’s pledge to a zero Net debt status by 31 March 2021.

This relationship with Silver Lake, one of the world-renowned technology investors, has specific importance following the serious economic disturbances triggered by the COVID-19 pandemic globally and in specific in India. Comprehensive digitalization should shape an integral part of Indian economy revitalization.

Silver Lake has about $40 billion in regulated, focused investments and a special perspective on the world’s best business and innovation prospects. Their assets included Airbnb, Alibaba, Ant Financial, Verily and Waymo Units of Alphabet, Dell Technologies, Twitter and a number of other global technology leaders.

A wholly owned subsidiary of Jio Networks, Reliance Jio Infocomm Limited, which provides connectivity for more than 388 million subscribers. Last week Telecom Jio reported a 177% growth in net profits in the fourth quarter to Rs 2,331 crore, with telco rising both in terms of traffic and revenues as the top network operator in India.