Facebook invested in Reliance Jio
In these times, when people are not thinking about investing a few dollars, there are companies from American private equity firms to Abu Dhabi Investment Authority (ADIA), who have invested around Rs 1,04,326.65 crore in the Reliance Industries’ (RIL) telecom and digital business, Jio. That is a 22.28% equity stake in Jio platforms. This shows that foreign companies are still interested in making a large amount of Foreign Direct Investment(FDI) in India. These companies include Facebook, TPG, Abu Dhabi Investment Authority, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, and L Catterton.
The investment was begun by Facebook by the investment of Rs 43,574 crore for a 9.99 percent.TPG, previously known as Texas Pacific Group, is an American Investment Company, which has invested Rs 4,546.8 crore for a 0.93% stake in Jio Platforms.
“We are excited to partner Reliance to invest in Jio. As an investor in growth, change, and innovation for over 25 years – and with a longstanding presence in India – we are excited to play an early role in Jio’s journey as they continue to transform and advance India’s digital economy. Jio is a disruptive industry leader that is empowering small businesses and consumers across India by providing them with critical, high-quality digital services,” Jim Coulter, Co-CEO TPG, said in the statement.
Abu Dhabi Investment Authority which invests on the behalf of the Government of the emirate of Abu Dhabi invested Rs 5,683.50 crore for a 1.16% stake in Jio Platforms. Silver Lake is an American multinational private equity firm that focuses mainly on the technology sector. It has invested Rs 5,655.75 crore. Vista Equity Partners is a capital raising firm for software and technology-enabled startups. They have invested Rs 11,367 crore for a 2.32 percent stake. General Atlantic is an American equity firm that provides support for the growth of companies. It has invested Rs 6,598.38 crore for a 1.34 percent equity stake.KKR & Co. Inc. is an American Multinational Investment firm that has invested Rs 11,367 crore for a 2.32 percent stake. Mubadala Investment Company is a state-owned investment company of the Government of Abu Dhabi. It has invested Rs 9,09360 crore investment for a 1.85 percent equity stake. Catterton Partners Capital market company is a company that helps middle-market companies and emerging high-growth enterprises. They have invested Rs 1,894.50 crore for a 0.39 percent stake.
Jio platforms aim to digitalize the economy while making the trading of products by local sellers online easier, which will contribute to the development of our country.