 "Reliance Jio")
Reliance Industries (RIL) on Sunday announced selling 1.34 per cent stake in its digital services subsidiary, Jio Platforms, to private equity (PE) firm General Atlantic for Rs 6,598.38 crore to accelerate consumer business and cut debt.
This is the fourth such stake sale within a month and it values Jio Platforms at Rs 4.91 trillion on an equity basis and Rs 5.16 trillion on an enterprise-value basis. So far, RIL has raised Rs 67,194.75 crore by selling 14.8 per cent in Jio.
While its legacy petrochemical business is facing pressure, Mukesh Ambani-controlled RIL is stitching deals with marquee investors, including
