How Much Did Mukesh Ambani Invest In Jio?

Is Jio subsidiary of Reliance?

Reliance Jio cracks another Rs 5000 crore-plus deal For those unaware, Jio Platforms is a wholly-owned subsidiary of Reliance Industries Limited.

Reliance Jio Infocomm Limited, which provides connectivity platforms to over 388 million subscribers, will continue to be a wholly-owned subsidiary of Jio Platforms..

Which bank does Mukesh Ambani use?

RIL HDFC BankMukesh Ambani led RIL HDFC Bank: Latest News & Videos, Photos about Mukesh Ambani led RIL HDFC Bank | The Economic Times.

Why is Jio so cheap?

I think it is so cheap because Jio works on internet, which is the latest technology. If you are in an area, where there is no internet coverage, the phone will stop working. … The 4G network made by Jio all over India during the past two years was by spending about two and half lakh crores rupees, according to a report.

Is Facebook buying Jio?

Latest. U.S. social media giant Facebook has unveiled a huge investment in Reliance Jio, a company which has been a game changer in India’s telecoms, media and entertainment sectors. The deal gives Facebook a 9.99% stake in Reliance Jio at a cost of $5.7 billion.

Who invests Jio?

There are 13 investors who have purchased a 32.94% stake in the Jio platform so far. The main companies that invested in Reliance Jio are; Google, Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, PIF, Abu Dhabi Investment Authority (ADIA), TPG, L Catterton and Qualcomm.

How much Ambani earns in a day?

In 2019, Ambani made an average of almost $4.5 million per day.

Why did Mukesh Ambani sell Jio?

The Jio deals will help reduce Reliance’s heavy debt burden, which stands at $44.4 billion. Ambani has said he is committed to reducing Reliance’s net debt to zero by 2021. Reliance also raised $7 billion in a rights issue that closed earlier this month. … Funds raised from that will also go toward paring down its debt.

Is Jio really profitable?

Jio’s net profit climbed 46% on-year to Rs 891 crore in the quarter to June, well above the roughly Rs 800 crore estimated by the markets. … IIFL said revenue of Rs 11,679 crore was a growth of 5% sequentially, or a daily revenue run-rate (DRR) growth of 4%, but marked a “significant” slowdown from recent quarters.

Why did Ambani sell Jio?

Mr Ambani has been selling stakes in Jio in support of a vow to bring net debt of more than $20 billion to zero at his oil, retail and telecommunications group before March 2021. … The sales are also “another step toward achieving a zero net-debt company by calendar year 2020,” he said.

Is it right time to invest in Reliance?

So if you are already invested in Reliance. it is a very easy decision to remain invested. … Anytime you can get a 10-15% correction; it could be a correction driven by overall fall in the Sensex and Nifty and in line with that Reliance also may correct. It may still outperform but may still correct on an absolute basis.

What is the value of Jio?

JioJio’s headquarters in RCP, Navi MumbaiOperating income₹3,631.2 crore (US$510 million) (Q4 2019)Net income₹1,148 crore (US$160 million) (FY 2019)Total assets₹187,720 crore (US$26 billion) (FY 2019)Total equity₹70,864 crore (US$9.9 billion) (FY 2019)13 more rows

Is Jio losing customers?

Reliance Jio Loses Customers For The First Time The Mukesh Ambani-backed telecom operator has been adding, on average, 78 lakh users every month for the last 37 consecutive months. … Its active subscriber base declined by 30.6 lakh in the month and has, in 19 months, lost close to 12.1 crore active users.

Is Jio running in loss?

Kolkata: Reliance Jio Infocomm is staring at a potential loss of Rs 15,000 crore ($2.1 billion) in FY19, which isn’t immediately visible because the Mukesh Ambani-led telco uses non-standard depreciation metrics and relies on another group company to bear handset subsidies, brokerage Sanford C Bernstein said.

Why did Jio get invested?

First, it’s a part of RIL, the largest company in India. Second, Jio is the market leader and making profits. It makes abundant business sense to invest in Jio and make profits before the company gets listed on the stock market a few years from now.

How much did Facebook invest in Jio?

A New Collaboration to Accelerate India’s Digital Transformation. Today we are announcing a $5.7 billion, or INR 43,574 crore, investment in Jio Platforms Limited, part of Reliance Industries Limited, making Facebook its largest minority shareholder.

Is Jio sold to FB?

Reliance Jio, the telecom unit of Reliance Industries Ltd (RIL), has sold a 9.99 per cent stake to US tech giant Facebook for $5.7 billion, or Rs 43,574 crore, in a deal that puts the pre-money enterpise value of Jio Platforms at Rs 4.62 lakh crore.

Who is Asia’s richest person?

Mukesh AmbaniAsia’s richest man, Mukesh Ambani, is now among the world’s 10 wealthiest people.

How much did Ambani invest in Jio?

Mukesh Ambani led Reliance Industries has raised Rs 11,367 crore from The Public Investment Fund (PIF) for a 2.32% equity stake in Jio Platforms on a fully diluted basis. The investment values Jio Platforms at an equity value of ₹ 4.91 lakh crore and an enterprise value of ₹ 5.16 lakh crore.

How much is Mukesh Ambani worth?

80 billion USD (2020)Mukesh Ambani/Net worth

Who invested in Jio recently?

Mukesh Ambani’s Reliance Jio has received an investment worth whooping Rs 87,655 crore in the last 6 weeks. The most recent of the lot came in face of Rs 9,093 crore invested by Abu Dhabi based Mubadala investment company.

Why is Ambani so rich?

Overnight, his wealth rose by $1.2 billion, thanks to the surge in the share prices of his oil-to-telecom company Reliance Industries (RIL), which is also India’s most-valued company.