Reliance Industries (RIL) announced on Saturday that global alternative asset firm TPG will invest Rs 4,546.80 crore in Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore. The investment will translate into a 0.93% equity stake in Jio Platforms on a fully diluted basis for TPG.
Separately, RIL announced on Saturday an investment of Rs 1894.50 crore by L Catterton, one of the world's largest consumer focused private equity firms. This investment values Jio Platforms at an equity value Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore. L Catterton's investment will translate into a 0.39% equity stake in Jio Platforms on a fully diluted basis.
Meanwhile, the shares offered in just concluded rights issue by RIL will be listed on stock exchanges today. On June 11, the allotment of partly paid-up shares to the demat accounts of the shareholders was completed by RIL. RIL's Rs 53,124 crore rights issue was India's largest-ever rights issue. It ended last week with a 1.6 times subscription.
Wipro announced that Wipro VirtuaDesk, Wipro's Desktop as a Service solution and Wipro's Digital Workspace solution, will join forces with Citrix Systems, Inc. and Microsoft to help customers drive business continuity while executing operations within the boundaries of social distancing and other limitations that have currently become the new normal.
Zydus Cadila announced that it has signed a non-exclusive licensing agreement with Gilead Sciences Inc., for the manufacturing and distribution of Remdesivir, the investigational drug, which has been issued an Emergency Use Authorization by the U.S. Food and Drug Administration (FDA) to treat patients suffering from severe symptoms of Novel Coronavirus. Zydus has been supporting the fight against COVID 19 with therapeutics, vaccines and diagnostics.
Grasim Industries' consolidated net profit rose 31.67% to Rs 1,505.87 crore on 11.69% fall in total income to Rs 20,201.67 crore in Q4 March 2020 over Q4 March 2019.
Also Read
Eicher Motors' consolidated net profit fell 44.15% to Rs 304.28 crore on 13.5% fall in total income to Rs 2,351.30 crore in Q4 March 2020 over Q4 March 2019.
PNB Housing Finance reported consolidated net loss of Rs 242.06 crore in Q4 March 2020 against a net profit of Rs 379.77 crore in Q4 March 2019. Total income fell 9.14% to Rs 1,951.84 crore in Q4 March 2020 over Q4 March 2019.
Triveni Turbine's consolidated net profit slumped 51.26% to Rs 13.78 crore on 35.43% fall in total income to Rs 159.79 crore in Q4 March 2020 over Q4 March 2019.
Dalmia Bharat's consolidated net profit slumped 88.6% to Rs 26 crore on 12.33% fall in total income to Rs 2,539 crore in Q4 March 2020 over Q4 March 2019.
Bhel reported consolidated net loss of Rs 1,532.67 crore in Q4 March 2020 against a net profit of Rs 681.46 crore in Q4 March 2019. Total income fell 50.49% to Rs 5,196.59 crore in Q4 March 2020 over Q4 March 2019.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content