RIL has started to hive off its oil-to-chemicals entity which comprises of its twin oil refineries at Jamnagar in Gujarat as well as petrochemical units
Jio Platforms has now announced a combined investment of Rs 104,326.95 crore in 10 deals since April 22
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With this investment, Jio Platforms has raised Rs 97,885.65 cr from leading global investors including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala and ADIA.
Jio Platforms, a wholly-owned subsidiary of Reliance Industries, is a next-generation technology platform focused on providing high-quality and affordable digital services across India
This brings the aggregate investment by Silver Lake and its co-investors to Rs 10,202.55 crore
In addition, he has been permitted to convert the physical share certificates held by him into the Demat form within three months
The rights issue closes on June 3. Shares of RIL closed at Rs 1,520 on Monday
Price fixed at Rs 1,257, a discount of 17.3% to the last closing
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In comparison PSU refiners were able to achieve 60%; RIL's oil-to-chemical biz can shift quickly from fuel to chemicals, domestic to exports
The company expects net proceeds of Rs 53,036.13 crore from the rights issue that opens on May 20 and closes on June 3
First issue since introduction of trading platform that allows eligible shareholders to sell their entitlement
The abridged letter of offer, application form of rights issue and rights entitlement letter will be sent to eligible equity shareholders of the company
This is Jio's third major announcement in three weeks after it previously sold stakes to Facebook and Silver Lake
According to a banker close to the development, the lenders have approached India's top retail players to evaluate the possibility of a merger
On a weekly basis, Sensex zoomed 7.6 per cent and Nifty jumped 7.7 per cent
No regulatory approvals were required in India for the acquisition of shares
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