How many deals has Reliance Industries struck in all for Jio Platforms and what is the total size of all these deals?
Answer
Answer
Over the last 8 weeks, the RIL group struck a series of deals starting with Facebook and then across a slew of PE funds and sovereign funds. Here are the highlights.
· Facebook acquired a 9.99% stake in Jio Platforms and was one of the first investors for Rs. 43,574 crore. It was more of a strategic placement of shares for larger partnerships.
· Over two rounds, RIL placed 2.08% stake in Jio Platforms with Silver Lakes PE Fund for a total consideration of Rs.10,203 crore for an overall valuation of $65 billion.
· Subsequently, Vista Equity Partners also took a 2.32% stake in Jio Platforms at a price of Rs.11,367 crore, becoming the second PE fund to invest in Jio Platforms.
· General Atlantic Partners then took a 1.34% stake in Jio Platforms for Rs.6,598 in what represented their first major stake in the India digital opportunity.
· Globally reputed KKR took a 2.32% stake in Jio Platforms for Rs.11,367 crore even as Henry Kravis called Jio the best positioned to prise open the India digital story
· With PE funds make a queue sovereign funds were not too far. Mubadala of Abu Dhabi took a 1.85% stake in Jio Platforms for Rs.9,094 crore to be followed by more
· This was followed by the Abu Dhabi Investment Authority taking a 1.16% stake in Jio Platforms for Rs.5,684 crore to participate in the India telecom opportunity
· The next big PE fund investment came from TPG Group which invested to take 0.93% stake in Jio Platforms for Rs.4,547 crore.
· Subsequent to that, UK based Catterton Fund also took a much smaller stake of 0.39% in Jio Platforms for Rs.1,895 crore and this represents the smallest among the flows
· Finally, the Public Investment Fund or PIF of Saudi Arabia also took a 2.33% stake in Jio Platforms at Rs.11,400 crore.
With the PIF deal, Reliance has now managed to sell 24.71% stake in Jio Platforms for a total consideration of Rs.1,15,729 crore. All the PE and Sovereign Fund investment deals other than Facebook have valued Jio Platforms at around $65 billion.