InvestorQ : Why has Silver Lakes increased its stake in Jio Platforms after already investing in the company close to a month back?
NISHA Nayak made post

Why has Silver Lakes increased its stake in Jio Platforms after already investing in the company close to a month back?

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4 months ago
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Silver Lakes, the PE fund which has already taken a 2% stake in Jio Platforms, will now pump in another Rs.4547 crore in Jio Platforms. This comes just a day after the sovereign fund of Abu Dhabi, Mubadala, infused Rs.9094 crore into Jio Platforms. With the second round sale to Silver Lakes, Rio has sold 19.9% stake in Jio Platforms for a total consideration of Rs.92,202 crore. This values the total Jio Platforms franchise at close to Rs.500,000 crore. RIL had been looking at quick monetization of its Jio Platforms stake so that, combined with the rights issue, it would be in a position to defray its debt and bring down its net debt to zero by March 2021.

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