Abu Dhabi fund Mubadala to invest Rs 9,093 cr in Jio Platforms; becomes sixth investor in Reliance Industries unit in as many weeks
The deals underline the status of Jio Platforms as a tech powerhouse and its ability to dominate India’s booming digital economy.
Facebook invests $5.7 billion in Reliance Industries Jio Platforms; plans digital services for Indian grocers
The deal for 9.99 percent of Jio Platforms, which houses the telecoms unit Jio Infocomm as well as other news, movie and music apps, gives Jio Platforms an enterprise value of about $66 billion, Reliance said.
State radio said Jio Infocomm had also been asked to restrict services in certain parts of Delhi.
Reliance Industries to set up digital subsidiary with Rs 1.08 lakh cr investment; Jio to be net debt-free
The subsidiary will also acquire RIL’s equity investment of Rs 65,000 crore in Jio Infocomm, bringing up Reliance's total investment in the digital business to Rs 1.73 lakh crore
It, however, remains to be seen how much money does Softbank actually put in, what the implied equity valuation is and if the e-commerce venture is included in the Jio entity.
Spectrum sale deal: SC asks RCom, Reliance Jio to take a decision by 11 January over settlement of past dues to DoT
The apex court was hearing a contempt petition filed by RCoM alleging that the Department of Telecom (DoT) has failed to furnish a no-objection certificate (NoC) clearing its spectrum sale deal with RJio even after the court had directed it to do so
Reliance Industries Ltd to set up production house for creating web series, short films for Jio customers
A source said that 20-25 creative people have come on board Reliance to create original content for Indian audiences who are big consumers of online media
Reliance Jio Infocomm said on its website that the new offer is providing an extra 20 percent of data on 10 LYF smartphones.
After a two year run-in with controversies, telecom sector now looks stable and seems back on its feet with initial investment proposal of over Rs 11,000 crore received in 2013.