Reliance Industries Ltd said on Monday private equity firm Silver Lake will invest Rs. 5,656 crores in its digital arm, giving it a valuation of Rs. 4.90 lakh crores.
Reliance Industries Ltd said on Monday private equity firm Silver Lake will invest Rs. 5,656 crores ($746.74 million) in its digital arm, giving it a valuation of Rs. 4.90 lakh crores. The deal comes days after Facebook said it would spend Rs. 43,574 crores to buy a 9.99 percent stake in Jio Platforms — the digital services entity that houses Reliance’s telecoms arm Jio Infocomm, as well as its news, movie and music apps, along with other businesses.
The deal adds to a flurry of fund raising activity announced by the oil-to-telecoms group in recent weeks including a $7 billion (roughly Rs.
