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Tuesday, May 05, 2020

Reliance Industries Sells further stake in Jio

Reliance Industries Limited said on Monday that it has shall be selling around 1.15% stake in it telecom business Reliance Jio unit Jio Platforms Limited to PE ( Private Equity ) investor Silver Lake Partners for INR Appx. 5,650 Crores.

Last week only RIL had sold around 10% stake to United States social media giant Facebook.

The fund received through the stake sale will be used to pare the debt of the parent Reliance Industries which has sought to become debt free by year 2021.

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