Silver Lake to invest Rs 5,655.75 crore in Jio Platforms, says Reliance Industries

Reliance Industries Limited on Monday announced that private equity firm Silver Lake will invest Rs 5,655.75 crore in its digital arm, giving it a valuation of Rs 4.90 lakh crore. The fresh deal came days after Facebook announced an investment of Rs 43,574 crore to buy a 9.99 per cent stake in Jio Platforms, which is the digital services entity. “Reliance Industries Limited (“Reliance Industries”) and Jio Platforms Limited (“Jio Platforms”) announced today that Silver Lake will invest Rs 5,655.75 crore into Jio Platforms. This investment values Jio Platforms at an equity value of Rs 4.90 lakh crore and an enterprise value of Rs 5.15 lakh crore and represents a 12.5% premium to the equity valuation of the Facebook investment announced on April 22, 2020,” the statement said. Mukesh Ambani, Chairman and Managing Director, Reliance Industries Ltd, said, “I am delighted to welcome Silver Lake as a valued partner in continuing to grow and transform the Indian digital ecosystem for the benefit of all Indians.” “Silver Lake has an outstanding record of being a valuable partner...

Read More........ → June 28, 2020

Russia-Reliance Group pact for 197 defence choppers

New Delhi: A defence arm of the Anil Ambani-led Reliance Group has been picked for another project by the Russian government -- this time for a Rs.6,000-crore ($925 million) potential deal to make 197 helicopters for the Indian Army and the Indian Air Force, informed sources said on Friday. Touted as among the largest deals under the "Make in India" programme, it calls for making 197 Kamov 226T choppers to retire the Chetak-Cheetah fleet that has been key inventory in frontline operations for over 30 years, notably in difficult terrain like Siachen, the sources added. "We are committed to actively participating in Prime Minister Modi's 'Make in India' and 'Skill India' program," the spokesperson for Reliance Defence said when asked for the company's comment on the deal, which involves manufacture of these light utility helicopters in the country. "The manufacture of both military and civil helicopters to meet the needs of the country are a significant part of this commitment," the spokesperson added. It is reliably learnt that the project is to be executed under a new joint venture,...

Read More........ → September 10, 2015

Nita Ambani unveils Hero Indian Super League trophy

Hero Indian Super League unveils the Pride of Indian Football in Mumbai Today. Mrs Nita Ambani said that its momentous day for all of us. Mrs Nita Ambani, founder & chairperson of Football Sports Development today unveiled the pride of Hero Indian Super League, the glittering Trophy here amidst glitz and glamour. Joining her at the momentous occasion were world footballing legends and icon players of eight Hero Indian Super League clubs -Fredrik Ljungberg (Mumbai City FC), Alessandro Del Piero (Delhi Dynamos FC), Joan Capdevila (NorthEast United FC), David Trezeguet (FC Pune City), RobertPirès (FC Goa), Mikaël Silvestre (Chennaiyin FC), Luis Garcia (Atlético de Kolkata) and David James (Kerala Blasters FC), coming together for the first time on one stage in India, and probably the world. The meticulously detailed and chiselled to perfection, Hero Indian Super League trophy is a labour of love, a celebratory symbol of grand triumph which will add crowning glory to the spectacle of Indian Football. Speaking on the occasion, Mrs Nita Ambani said, “It’s a momentous day for...

Read More........ → October 06, 2014