Featured Saudi Arabia to Invest $1.5 Billion in India’s Jio Platforms

[Aramagedon]

Saudi Arabia to Invest $1.5 Billion in India’s Jio Platforms
P R Sanjai
Jun 18 2020, 4:24 PM IST Jun 21 2020, 10:42 AM IST

(Bloomberg) -- Saudi Arabia’s sovereign fund will invest $1.5 billion in the telecommunications and digital services business controlled by Indian billionaire Mukesh Ambani, bringing total new investment in Jio Platforms Ltd. to $15.2 billion since April.

The Public Investment Fund will hold a 2.32% stake in the arm of Reliance Industries Ltd., the Mumbai-based company said in a statement Thursday.

The deal, the 11th into Jio in about two months, adds to the list of high-profile backers betting the company will disrupt India’s massive consumer market with its technology. Reliance Industries has vowed to pay down net debt to zero before March 2021, while using its roughly 400 million wireless phone subscribers as the cornerstone of an e-commerce and digital business.

Ambani’s $65 billion digital unit has sold about 25% in stakes to buyers including Facebook Inc. and U.S. private equity firms including KKR & Co., Silver Lake Partners and General Atlantic.

Buyer Amount Stake Date
Facebook $5.7 billion 9.99% April 22
Silver Lake* $1.35 billion 2.1% May 4, June 5
Vista $1.5 billion 2.3% May 8
General Atlantic $873 million 1.3% May 17
KKR $1.5 billion 2.3% May 22
Mubadala $1.2 billion 1.85% June 5
Abu Dhabi Investment Authority $752 million 1.16% June 7
TPG Capital $600 million 0.93% June 13
L Catterton $248 million 0.39% June 13
PIF $1.5 billion 2.32% June 18
*Silver Lake’s investment is in two parts, including a $602 million segment announced June 5 that includes backing from co-investors.

The investments boost Ambani’s momentum in shifting his sprawling conglomerate, India’s largest company, away from dependence on oil refining and petrochemicals toward telecommunications, e-commerce, online entertainment and payments.

“We at Reliance have enjoyed a long and fruitful relationship with the Kingdom of Saudi Arabia for many decades,” Ambani said in Thursday’s statement. “From Oil Economy, this relationship is now moving to strengthen India’s New Oil (data-driven) Economy.”

https://www.bloombergquint.com/business/saudi-arabia-s-pif-to-invest-1-5-billion-in-jio-platforms

 

[American Pakistani]

May they also invest like this in the akhrat wherever bhart is located at that time and wherever bhartis are at that time.

 

[Dark1]

The senior ambani got a shock when his junior brother decided to tank all his companies and become insolvent.
I feel this zero debt target was a emotional reaction to that. Normally all companies keep some debt.

 

[Aramagedon]

If Saudi house has huge money and they don't know what to do with it they should invest in brotherly Islamic countries like Pakistan NOT India which has several times bigger GDP than Pak.

https://defence.pk/pdf/threads/the-complicated-lives-of-the-saudi-royal-family.65747/page-2

 

[Bismarck]

If Saudi house has huge money and they don't know what to do with it they should invest in brotherly Islamic countries like Pakistan NOT India which has several times bigger GDP than Pak.

https://defence.pk/pdf/threads/the-complicated-lives-of-the-saudi-royal-family.65747/page-2

Why you think KSA care Muslim brotherhood?

 

[Aramagedon]

Why you think KSA care Muslim brotherhood?

Everyone know nature of Saudi house. I'm taunting to waken up ultra worshippers of this demonic family.

 

[Aramagedon]

You think Mullahs in Iran are better?

Since we are not under sanctions and we are proudly investing in India for tens billions $ and vice-versa Mullah are your arch enemy too.

The main problem of Islamic nations are missing secularism. Sharia is b******t and backward. Who wants to live like our primate ancestors should go to the jungle or leave western nations.

Don't make it sectarian. No one is actually religious.

they hide behind religion to fool people but they are actually the worst of irreligious living scums on the earth.

 

[BATMAN]

If Saudi house has huge money and they don't know what to do with it they should invest in brotherly Islamic countries like Pakistan NOT India which has several times bigger GDP than Pak.

https://defence.pk/pdf/threads/the-complicated-lives-of-the-saudi-royal-family.65747/page-2

Pakistan is not a brotherly country to Saudis. Unless you were not asleep all the time on this forum.

 

[Aramagedon]

Pakistan is not a brotherly country to Saudis. Unless you were not asleep all the time on this forum.

I didn't sleep in your bed.

 

[BATMAN]

I didn't sleep in your bed.

Congratulations.

 

[Silverblaze]

Time has come to deal with these country's govts as a state and not as coreligionists.

People of Arab world or other muslim countries are very dear to us, but Pakistan must now deal with the pro india govts strictly as states and nothing else.

In today's world any muslim country that willingly sides with hindus, despite india's open concerted efforts to humiliate islam, has lost any right to be considered a part of the muslim family.

 

[truthfollower]

May they also invest like this in the akhrat wherever bhart is located at that time and wherever bhartis are at that time.

better focus on your own Aakhrut instead of worrying about others

 

[Protest_again]

Time has come to deal with these country's govts as a state and not as coreligionists.

People of Arab world or other muslim countries are very dear to us, but Pakistan must now deal with the pro india govts strictly as states and nothing else.

In today's world any muslim country that willingly sides with hindus, despite india's open concerted efforts to humiliate islam, has lost any right to be considered a part of the muslim family.

You don't side with Saudi for religion but for their money. It is becuase of them that you are not bankrupt today. Be grateful. Lol.

 

[Mamluk]

If Saudi house has huge money and they don't know what to do with it they should invest in brotherly Islamic countries like Pakistan NOT India which has several times bigger GDP than Pak.

https://defence.pk/pdf/threads/the-complicated-lives-of-the-saudi-royal-family.65747/page-2

All hydrocarbon-rich Middle Eastern countries, including your own, have been in bed with India since forever. We are used to this and don't expect anything from Middle Eastern countries.

 

[El Sidd]

How is this related to social and current events in Pakistan?

Poor attempt.

But will give points for trying.