Crores

Reliance Industries on Sunday announced US fund General Atlantic will invest Rs. 6,598 crores ($870 million) in Jio Platforms, a fourth deal that takes investment in its digital unit to over $8 billion in less than a month. General Atlantic will pick up a 1.34 percent stake in Jio Platforms which includes movie, music apps as wells telecoms venture Jio Infocomm. The deal puts Jio Platform's equity value at Rs. 4.91 lakh crores and gives it an enterprise value of Rs. 5.16 lakh crores, Reliance said in a statement.Reliance,…

Reliance Industries on Friday announced the sale of a 2.32 percent stake in its digital unit to US private equity giant KKR for Rs. 11,367 crores, the fifth deal in four weeks that will inject a combined Rs. 78,562 crores in the oil-to-telecom conglomerate to help it pare debt. This is KKR's largest investment in Asia."This transaction values Jio Platforms at an equity value of Rs. 4.91 lakh crores and an enterprise value of Rs. 5.16 lakh crores. This is KKR's largest investment in Asia and will translate into a 2.32…

Reliance Industries late on Friday said US private equity fund Silver Lake and its co-investors will invest an additional Rs. 4,546.80 crores in the company's digital unit Jio Platforms. The investment comes on top of the Rs. 5,656 crores Silver Lake committed to Jio Platforms earlier this month.Silver Lake's new investment gives Jio Platforms -- which houses Reliance's telecoms arm Jio Infocomm and its music and video streaming apps -- an enterprise value of Rs. 5.16 lakh crores, Reliance said in a regulatory filing, and…

Shakira Will Face Trials For 8 Years Sentence Against Spanish Prosecutors For Tax Fraud(Pic Credit: Facebook) Queen of Latina music and Hips Don’t Lie hitmaker Shakira has now landed herself in some serious legal soup. According to a recent scoop, the global music superstar might face jail time for up to eight years. Yes, you read that absolutely right. This indeed came as a huge shocker for everyone. These sudden reports come a day after the music star rejected a plea deal on accusations of tax…

Jio Platforms will receive an investment of Rs. 11,367 crores from Saudi Arabia's sovereign wealth fund Public Investment Fund (PIF) for an equity stake of 2.32 percent, Reliance Industries announced on Thursday. With the latest investment, Jio Platform has raised a total of Rs. 1,15,693.95 crores in nine weeks. The recent investors include Facebook, Silver Lake, Vista Equity Partners, and General Atlantic, among others. The investments in Jio Platforms notably come at the time when the global pandemic has affected…

Vodafone Idea, the country's third largest telecom operator, on Wednesday reported a staggering Rs. 73,878 crores of net loss in fiscal ended March 2020 - the highest ever by any Indian firm - after it provisioned for Supreme Court mandated statutory dues.The firm, which has to pay Rs. 51,400 crores dues after the Supreme Court ordered the non-telecom revenues to be included in calculating statutory dues, said the liability has "cast significant doubt on the company's ability to continue as a going concern."In a…

Intel's investment arm will pay Rs. 1,894.50 crores (roughly $255 million) for a small stake in Reliance Industries' digital unit Jio Platforms, the latest in a slew of share sales that have helped the Indian conglomerate pay down debt. Reliance has now sold just over a quarter of Jio Platforms, the unit that houses its telecoms venture Jio Infocomm, and its music and movie apps, raising $15.8 billion (Rs. 1,17,588.45 crores) from investors including Facebook and KKR.The deals highlight Jio Platforms' potential to become…

Reliance Industries said on Sunday Qualcomm's investment arm will buy a 0.15 percent stake in its digital unit Jio Platforms for Rs. 730 crores ($97.1 million). The partnership will help Jio Platforms, the unit that houses Reliance's telecoms venture Jio Infocomm, to "roll out advanced 5G infrastructure and services for Indian customers", Reliance said in a statement. Qualcomm's move comes at a time India is preparing to auction 5G airwaves to telecoms service providers.With this new investment, Reliance has sold a 25.2…

Google is investing Rs. 33,737 crores in Jio Platforms for 7.7 percent stake, Reliance Industries Limited (RIL) announced on Wednesday. The new development comes just a couple of days after Jio Platforms received Rs. 730 crores of investment from Qualcomm Ventures. The telecom arm of the Indian conglomerate also recently sold its small stake to Intel's investment arm at Rs. 1,894.50 crores. The fresh investment is a part of Google's India Digitisation Fund worth Rs. 75,000 crores.As a result of Google's investment, Jio…

In a shocking incident, police have arrested four people in connection with a Chinese loan app racket that stole more than Rs. 10 Cr from victims by threatening and abusing them. Know how this online scam worked. Loan scammers are heavily relying upon digital infrastructure to propagate the crimes and swindle victims in a wider geography. In a recent incident, a loan app has surfaced which would scam people by promising easy payout without paperwork or credit…