InvestorQ : Is it true that Reliance Jio is looking to offload another 8% stake to investors? This time will it be to Facebook or to Silver Lake?
Neelam Naik made post

Is it true that Reliance Jio is looking to offload another 8% stake to investors? This time will it be to Facebook or to Silver Lake?

Answer
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Priyanka N answered.
5 months ago


It has been indicated that Reliance could look to offload another 8% stake in Jio Platforms to a clutch of foreign investors. Earlier, RIL had sold 9.99% stake in Jio Platforms to Facebook for Rs.43,500 crore and then another 1.15% stake in Jio Platforms to Silver Lake for Rs.5656 crore. The Silver Lake deal was at a 12% premium to the Facebook and values Jio platforms at $65 billion overall. RIL has hinted that this additional sale will also be to long term strategic investors only. Any incremental cash coming into Jio would boost Jio’s balance sheet and help it renew its 850 MHz airwave holdings and also buy 5G spectrum. Above all, it allows RIL to monetize its stake in Jio Platforms and turn RIL into a zero-net debt company by March 2021.