- How much did Ambani invest in Jio?
- Who invested in Jio recently?
- Is Jio cheapest in the world?
- Is Jio really profitable?
- Is Jio profitable now?
- Why did Mukesh Ambani sell Jio?
- Why did Ambani sell Jio?
- Why is Jio getting so much investment?
- Who invested in Jio?
- Will Jio bring 5g?
- How much Ambani earns in a day?
- Can Jio be listed?
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..
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.
Is Jio cheapest in the world?
Reliance gradually upped Jio tariffs between 2017 and 2020, but India continues to have the cheapest mobile data in the world. At present, 1GB data costs Rs 18 ($0.26) on an average. And, Jio is the country’s largest telco with 388 million subscribers.
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.
Is Jio profitable now?
The telco, led by Mukesh Ambani, on Friday said profit for the quarter rose to Rs 1,350 crore compared with Rs 831 crore a year ago. The market had estimated profit to be more than Rs 1,300 crore. Profit was up 36.4 per cent from the preceding quarter. It is the company’s ninth profitable quarter in a row.
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.
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.
Why is Jio getting so much investment?
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.
Who invested in Jio?
Intel Capital, the investment arm of global tech and semiconductor major Intel corporation, will pick up 0.39% equity stake in Jio Platforms for Rs 1,894.50 crore, making it the eleventh investor to pick up stake in RIL’s telecom and digital business in about two months.
Will Jio bring 5g?
Jio is said to have a complete end-to-end 5G solution prepared by the company itself that is ready for deployment once the networks are in place. The announcement, made at the company’s Annual General Meeting, will enable Jio to export 5G solutions to other telecom players globally, Ambani said.
How much Ambani earns in a day?
In 2019, Ambani made an average of almost $4.5 million per day.
Can Jio be listed?
An overseas listing of Jio Platforms can also not be ruled out, given that the stock markets regulator, the Securities and Exchange Board of India, has eased overseas listing norms. Jio Platforms has an equity valuation of ₹4.91 trillion and an enterprise value of ₹5.16 trillion.