Reliance Jio Goes Debt-free, Plans to Bring Made-in-India 5G Solutions

Jio's stake sale is over, as the view expressed by investment firm JP Morgan. Starting from April 21st, Jio Platforms Ltd (JPL), the telecom and digital arm of Reliance Industries, owned by richest Indian Mukesh Ambani has started its stake sale. Ambani has set a target to make Reliance net debt free by March 31, 2021, and he achieved that target much before - 3 quarter early. Therefore it is expected that Jio, who already sold nearly one fourth of the company to foreign investors, will not go further. 

A tweet from Reliance Jio also hints to that, as the table summerizes all fund received into Jio. (table below)

Just like NASA's Jet Propulsion Laboratory (JPL) made rockets, India's JPL or simply Jio has shown its growth like a rocket. It began from a scratch and developed as a greenfield pure 4G operator, backed by several app based ecosystem. 

Extended Stake Sale: Jio Got Five More Investments

Reliance Jio continues its stake selling spree. The sale extends from April to May, now to June of 2020. 

The June 2020 phase is full of investors from UAE and United States, the list includes Mubadala Investment Company (Abu Dhabi, UAE), Abu Dhabi Investment Fund (ADIF) and American PE firms, TPG (based at Greenwich, Connecticut) and L Catterton (Texas based). Already invested, Silver Lake is also investing more money in Jio Platforms Ltd in June.

Date	Company	Investment	Stake acquired
April 21	Facebook	Rs 43, 574 Cr	9.9%
May 4	SilverLake	Rs 5,655.75 Cr	1.15%
May 8	Vista Equity	Rs 11,367 Cr	2.32%
May 17	General Altantic Partners	Rs 6598.38 Cr	1.34%
May 22	KKR & Co.	Rs 11,367 Cr	2.32%
June 4	Mubadala Investment Co	Rs 9,093.60 Cr	1.85%
June 7	Abu Dhabi Investment Fund (ADIF)	Rs 5683.50 Cr	1.16%
June 5	SilverLake	Rs 4,546.80 Cr	0.93%
June 13	TPG	Rs 4,546.80 Cr	0.93%
June 13	L Catterton	Rs1,894.50 Cr	0.39%

Jio in a Fundraising Mode, Gets investment 4th & 5th ones from GA & KKR

Mukesh Ambani is unstoppable to bring one after another investment for his dream project, Jio to 'further propel Jio's vision of enabling a digital society for India'. In a month Jio Platforms fetched a hopping total of 78,562 crore rupees of investment from different American companies including social giant Facebook. 

Investment from Facebook, SilverLake and Vista Equity has already been published on my earlier post. Recent investments in Jio would be coming from General Atlantic Partners and KKR ＆ Co. Both companies are headquartered in New York.

General Atlantic is one of the early investor in Uber and Airbnb. Definitely they are looking towards change in India's digital ecosystem.