 "In the past two months, Jio has raised Rs 1.17 trillion through stake sales to ramp up its digital services business and expedite its debt reduction goals.")
Index heavyweight Reliance Industries (RIL) hit a fresh record high of Rs 1,847.7, advancing 3.4 per cent, on the BSE on Monday after the company bagged 12th foreign investment for its digital arm Jio Paltforms on Friday. The oil-to-telecom behemoth announced a stake sale of 0.39 per cent in its digital services subsidiary to Intel Capital for Rs 1,894.50 crore.
Intel Capital is an arm of Intel, the world's largest semiconductor manufacturer. It joins 11 other investors, including sovereign funds and private equity firms, which now collectively own 25.09 per cent in Jio Platforms. READ HERE
In
