In fact, Jio Platforms is the one business that Reliance has found it easiest to monetize. After selling 9.99% stake to Facebook, RIL followed it up with stake sale to other PE fund like Silver Lakes, Vista Equity, General Atlantic and KKR. Till date, RIL has monetized by selling 17.2% stake in Jio Platforms for Rs.78,500 crore. If you look at the implied valuations, it works out to $63 billion for Jio Platforms. As Mukesh Ambani had rightly predicted, digital is proving to be the big value creator for the group. In addition, there is also the mega rights issue worth Rs.53,150 crore which is underway. RIL proposes to use 75% of the proceeds of the rights issue to repay debt. However, the rights will be paid for by the investors in 3 tranches with the last 2 tranches payable in Jun-21 and Nov-21. Just 25% of the rights amount will be in the coffers of RIL by Mar-21. That means, despite the monetization and the rights issue, RIL will still be left short of its target by Mar-21.