Reliance Industries, an entity that stands tall even during the calamity, is out in the field with their killer business move. When shutters fell for other enterprises during the Corona and lockdown, Mukesh Ambani minted money through investments from giants including Facebook. Now, Asia’s richest man is gearing up to launch IPO for Jio Platforms outside India. Reliance Jio Team is planning to launch the Initial Public Offer overseas by next year but hasn’t revealed where it will be listed. Facebook, Silver Lake Partners, General Atlantic, and New York-based KKR & Co have invested in Reliance Group over the past few weeks. Funds that Jio availed despite the crisis should be taken note of.
Within the past four to five weeks, Reliance Industries, helmed by Mukesh Ambani, struck 5 foreign deals. The sale of its 16.95% shares to Foreign Investors has fetched Rs 78,000 crore.
The funding rally that started with Mark Zuckerberg’s Facebook acquiring 9.99% stake in Jio platforms for Rs 43574 Cr was followed by Silver Lake Partners earning 1% stake for Rs 5,656 Cr and Vista Equity Partners buying 2.3% stake for Rs11,376 Cr. General Atlantic owns 1.34% stake for Rs 6,598 Cr. RIL, which sold a 2.32% stake to KKR Group for Rs 11,367 crore, now has a market equity value of 4.91 trillion and an enterprise value of 5.16 trillion.
After the first deal announced on April 22, the share price of Reliance Industries increased to Rs 215.12. In the meantime, the share value had reached Rs 1562.56 at one point. Asia’s richest man now aims bigger heights through foreign investments. Perhaps something bigger an Indian Entrepreneur can dream of.
