The Indian telecom Giant Reliance- Jio has recently raised funding from different companies.
Since from the launch of Jio, Mr. Mukesh Ambani the Chairman of Reliance Industries Ltd always wanted to make the company bigger in every possible ways.
Founded on 15 February 2007, Jio (or Joint Implementation Opportunities) has literally created digital revolution in India by providing cheapest data and internet.
Jio has received massive sucess and consumer base right from the initial days.
With the revenue of Rs. 18,632 crore till 31st March, it is the leader in the Indian Telecom Industry.
Recently, Jio has raised fundings from multiple companies.
Facebook Inc. becomes one of the marquee investor in Jio Platforms with a $5.7 billion (Rs 43,574 crore) in exchange of 9.9% of the stake, and this is India’s biggest FDI in telecom industry.
Second biggest investment is from US private equity firm Vista Equity Partners with $1.5 (Rs. 11,367 Crore) billion in exchange of 2.23% stake.
With this the total valuation of Jio platform is now when compared with listed companies, makes it the fourth most valued in India after HDFC Bank, TCS and RIL and ties it with consumer products major HUL.
As per the reports, there are some more companies planning to invest.
Saudi Arabia’s $320 billion sovereign wealth fund is also considering purchasing a minority stake in Jio, Bloomberg News reported earlier Friday.