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Jio Platforms receives Rs 43,574 crore from Jaadhu Holdings

By: Meenu Rana, The Mobile Indian, New Delhi Last updated : July 08, 2020 1:48 pm

Jio Platforms has allotted equity shares to Jaadhu Holdings following which Jaadhu Holdings holds 9.99% of the fully diluted equity share capital of Jio Platforms.
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Jio Platforms has now received the subscription amount of ₹43,574 crore from Jaadhu Holdings LLC (a wholly owned subsidiary of Facebook Inc). This comes after Jio announced that Intel Capital, investment arm of Intel Corporation will invest Rs 1,894.50 crore in Jio Platforms.

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.”

Jio Platforms has allotted equity shares to Jaadhu Holdings following which Jaadhu Holdings holds 9.99% of the fully diluted equity share capital of Jio Platforms. With the investment, Jaadhu Holdings is set to become the 12th investor to make an investment in Jio Platforms.

 

With the Intel deal, Jio Platforms has so far raised Rs 117,588.45 crore from 11 investors since April 22, 2020. The other global investors include Saudi Arabia’s Public Investment Fund, TPG and L Catterton, Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, TPG and L Catterton.

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Au Dhabi state fund Mubadala Investment Company and Abu Dhabi Investment Authority (ADIA)have already picked up stakes of Rs 9,093.65 and Rs 5,683.50 crore, respectively, in Jio Platforms.

 

General Atlantic invested Rs 6,598.38 crore in Jio Platforms for 1.34 per cent stakes. US-based Vista Equity Partners Ltd already announced an investment of Rs 11,367 crore in Reliance Jio Platforms. KKR announced that it will invest Rs 11,367 crore in Jio Platforms.

 

Facebook acquired a 9.9 per cent stake in Jio Platforms for Rs 43,574 crore. Silver Lake Partners also invested in the company for Rs 5,655 crore at an equity value of Rs 4.90 lakh crore and an enterprise value of Rs 5.15 lakh crore.


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