Ambani has Sold a Stake of 11,367 Crore From his JIO Platform

Reliance Industries has said that in less than 3 weeks it has uplifted Rs 60,596.37 crore from the leading investors in technology.

Mukesh Ambani the highest shareholder of Reliance Industries Ltd. has announced on Friday that he has sold a stake of 11,367 crore from his Jio Platform.

He has also mentioned to provide Rs 60,596.37 crore so that it will decrease the debts of the Telecom Energy Group.

The Following 10 Things Were Mentioned in the Announcement

  1. The Mumbai Headquarter Conglomerate said that the private entity firm will become the largest in the Jio platform as Vista’s Investors will be able to convert the investment into a 2.32 percent equity stake.
  1. Reliance Industries has announced that Jio Platforms has raised Rs.60,596.37 crore from the investors of the leading technology that has helped Reliance Jio to become the 3rd High profile Investor in the recent past year.
  1. On 22nd April the deal has removed the investment of Rs.43,574 crore with Facebook and it has also secured Rs.5,656 crore from investing in Silver Lake Pvt firm.
  1. Vista has been helping us to grow and transform the country’s digital ecosystem which will benefit all our citizens. Mukesh Ambani, the Chairman and Managing Director of Reliance Industries said that power to transform the technology can be a key for a better future.
  1. Reliance Industries will be able to meet its target debts if it plans to sell new shares of Rs 53,125 crore then only it can result in the liquidation of $21.4 billion by the end of the year.
  1. After the announcement there has been an increase in the share of Reliance Industries by 3%.
  1. Vista’s investment in different sectors of a company such as healthcare, entertainment and real estate has been more than $57 billion.
  1. On Mar 31 due to a decrease in the price and demand for fuel there has been a decline in the net profit of Reliance by Rs.6348 crore.
  2.  As the Telecom Service provided by Reliance Jio has been growing at an alarming rate it has given a connectivity platform to more than 38.8 crore subscribers.
  3. Reliance Jio has posted that from  1st Oct -31st Dec there has been an increase in net profit of Rs 2,331 crore in the year 2019-2020. And the annual net profit has increased to 88%.