Since April 2020, Reliance Jio Platforms has raised ₹115,693.95 crore from investors including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, TPG and L Catterton. PIF has announced an investment of Rs 11,367 crore in Jio Platforms, which sees it pick up a 2.32 percent stake in the company. "I also express my heartfelt gratitude to all the retail and institutional investors, both domestic and foreign, for their overwhelming participation in our record-setting Rights Issue", Mr. Ambani added. After this investment, Jio Platforms is now valued at Rs 4.91 lakh crore in equity, and Rs 5.16 lakh crore as enterprise value.
The stunning speed and size of the fund-raising has helped Reliance achieve the net debt-free status before the March deadline set for the company by Ambani, Asia's richest man. With the latest investment, Jio Platform has raised a total of Rs. 1,15,693.95 crores in nine weeks.
Referring to the capital raise in the last two months, Reliance Industries Limited in its Bombay Stock Exchange (BSE) filing highlighted, "The combined capital raised has no precedence globally in such a short time".
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RIL is the first listed entity to cross the market capitalisation of Rs 11 lakh crore and has more than doubled its investor wealth since March 23.
Mukesh Ambani, Chairman and Managing Director of Reliance Industries, said, "We at Reliance have enjoyed a long and fruitful relationship with the Kingdom of Saudi Arabia for many decades".
"We have a very clear roadmap to becoming a zero net-debt company within the next 18 months that is by March 31, 202", he had said past year highlighting strong interest from strategic and financial investors in consumer businesses, Jio and Reliance Retail.
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Alphonso David, the group's president, said , "No one should be denied a job or fired simply because of who they are or whom they love".
"Exceeding the expectations of our shareholders and all other stakeholders, again and yet again, is in the very DNA of Reliance", he said.
On August 12 a year ago, RIL chairman Mukesh Ambani had assured shareholders about his roadmap for Reliance becoming a net debt free company before March 31, 2021. This is even more remarkable that this was achieved amidst a global lockdown caused by the COVID-19 pandemic. We will induct leading global partners in these businesses in the next few quarters, and move towards listing of both these companies within the next five years.
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Authorities imposed a blockade on 11 residential complexes near the market, strictly prohibiting anyone from entering or leaving. Ten of the other cases were brought from outside the country and three were found in Hebei province just outside Beijing .