Reliance Industries Limited subsidiary Jio Platforms announced that Silver Lake will invest approximately $850 million into Jio Platforms. Jio is building a Digital Society for India with various apps and digital ecosystems.
Reliance Jio Infocomm Limited, which provides connectivity platform to approximately 388 million subscribers, will continue to be a whollyowned subsidiary of Jio Platforms. Jios vision is to enable a Digital India for 1.3 billion people and businesses throughout India, especially small merchants, micro-businesses and farmers.
The major deals and supports by Reliance Industries are featured below:
- April 2020: Jio Platforms Limited a wholly-owned subsidiary of Reliance Industries Limited has announced that Facebook will invest approximately $6 billion in Jio Platforms for a 9.99% equity stake of the company on a fully diluted basis.
- April 2020: Reliance Industries Ltd. (RIL) has announced that it will enhance its support to the service of the nation 24×7 in a collective fight against Covid-19. The company has already initiated a multi-pronged prevention, mitigation, and ongoing support strategy that is comprehensive, sustainable, and resilient.
- March 2020, RIL announced $66 million contribution to Indias PM CARES Fund to fight against Covid-19. The company also supports with medical devices, food delivery for health workers and caregivers. The company announced that its employees are ready for nations service daily.
About Jio Platforms Limited
Jio Platforms Limited is a world-class digital platform provider, headquartered in India. It is a wholly-owned subsidiary of Reliance Industries Limited. It is a next-generation technology company building a Digital Society for India by bringing together Jios leading digital apps, digital ecosystems and high speed connectivity platform under one umbrella in India. Jio provides digital platform and technologies such as Broadband connectivity, Smart Devices, Cloud and Edge Computing, Big Data Analytics, Artificial Intelligence and Internet of Things.
About Reliance Industries Limited
Reliance Industries Limited, headquartered in Mumbai, India, is a leading multinational company. RILs activities include petroleum refining and marketing, hydrocarbon exploration and production, petrochemicals, retail and digital services. The companys products and services portfolio touches almost all Indians on a daily basis, across economic and social spectrums.