jio platforms

A $4.5 billion (Rs. 33,737 crores in India) deal under which Alphabet's Google will collaborate with India's Reliance Industries on a new smartphone likely heralds a big shake-up for the world's second-largest mobile market, industry executives and analysts say.Reliance boss Mukesh Ambani, announcing the partnership at his company's annual meeting last week, said Google would build an Android operating system to power a low-cost "4G or even 5G" smartphone that Reliance would design.The new phone is set to pose a major…

India's Reliance has approached investors in its digital business about potentially buying stakes in its retail arm, two sources with direct knowledge of the matter said on Thursday.The oil-to-telecoms conglomerate is looking to attract more investors to Reliance Retail as the business expands rapidly online to take on the likes of Walmart's Flipkart and Amazon's Indian arm.Earlier this year, Reliance, controlled by Asia's richest man Mukesh Ambani, sold nearly 33 percent of its Jio Platforms digital business, netting…

Reliance Jio now has a base of 40.56 crore subscribers, Reliance Industries revealed while announcing its earnings for the second quarter ending September 30 on Friday. The telecom operator, which is already the biggest telco in India, had added 73 lakh subscribers in the quarter, down from the 99 lakh new customers added in the previous quarter ended on June 30. In terms of average revenue per user (ARPU), Jio stated that it generated Rs. 145 per subscriber a month in the second quarter. This shows an increment of 3.2…

Indian oil-to-telecoms conglomerate Reliance Industries raised a total of Rs. 6,441.3 crores ($847 million) from the sale of two stakes in its digital unit Jio Platforms, the group said on Saturday.Global investment firm TPG will buy a 0.93 percent stake for Rs. 4,546.80 crores ($598 million), while private equity firm L Catterton will pick up a 0.39 percent stake for Rs. 1,894.50 crores ($249 million), Reliance said.Controlled by India's richest man Mukesh Ambani, Reliance has now sold just over 22 percent of Jio…

Indian private equity (PE) investments reached $70 billion in 2021 in more than 2,000 deals -- an 87% increase over the volumes in 2022, a new report showed on Thursday.Indian investments grew by 96 per cent over 2020 (excluding the mega deals of Jio Platforms and Reliance Retail).Much of the deal activity was in consumer tech and IT/ITES sectors.The two sectors combined represented more than 60% of the year's deal value, at nearly $44 billion, according to the annual India Private Equity Report 2022 by Bain &…

India's Reliance Industries is investing $200 million (roughly Rs. 1,510 crore) in Glance, a lock screen content company backed by Alphabet and owned by ad-tech firm InMobi, to bring the service to new Jio smartphones this year, the companies said on Monday.The investment, made through Reliance's Jio Platforms unit, values Glance at $1.7 billion to $1.8 billion (roughly Rs. 12,800–13,600 crore) post-money, according to a source involved in the deal.The integration will allow Reliance's retail businesses to advertise…

Jio Platforms' subsidiary Asteria Aerospace, a drone manufacturer and solution provider in India, has launched its drone operations platform SkyDeck. SkyDeck is a cloud-based software platform to deliver a Drone-as-a-Service (DaaS) solution for various industry verticals, such as agriculture, surveying, industrial inspections, and surveillance and security, according to a company release.SkyDeck provides a unified dashboard and services for drone fleet management, scheduling, and executing drone flights, data processing,…