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With the fund raising now achieved, Reliance Industries has become a debt-free company
In terms of deal type, buyouts were the most affected with only 14 transactions worth $794 million compared to 27 worth $6.2 billion in the year-ago period
The SGX Nifty is indicating an open at around 10,030 levels for the Nifty amid mixed global cues
Jio SecureID works through a dedicated app of the same name, which is available on Apple's App Store and Google's Play Store to download
SGX Nifty is also down around 40 points, indicating a flat to lower opening for the Indian indices
With this investment, Jio Platforms has raised Rs 97,885.65 cr from leading global investors including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala and ADIA.
Jio Platforms, a wholly-owned subsidiary of Reliance Industries, is a next-generation technology platform focused on providing high-quality and affordable digital services across India
Reliance Industries in a statement said with this, aggregrate investment by Silver Lake in Jio Platforms will be Rs 10,202.55 crore
This brings the aggregate investment by Silver Lake and its co-investors to Rs 10,202.55 crore
Today, a total of 31 companies including Voltas, Jubilant Life Sciences, and Metropolis Healthcare, are scheduled to announce their March quarter results
The Mukesh Ambani-led conglomerate today announced that it has signed binding agreements for an investment of Rs 43,574 crore by Facebook into Jio Platforms
A slowing economy pushes the two to come together to develop a joint engagement platform for rural consumers
Reliance Jio added 56 lakh new customers, followed by Bharti Airtel which added 16.59 lakh new subscribers and BSNL 3.41 lakh.
With 2019 drawing to a close, Business Standard looks at the biggest news developments from the world of business that shaped the year
Listen to the podcast to know how Reliance is all set to take on Amazon and Flipkart with its online food and grocery selling venture, JioMart
Mumbai, 24 DecemberReliance Jio Infocomm's plan to reduce debt by selling stake in its telecom tower arm to Canadian investor fund Brookfield isn't free of the income tax (I-T) department hurdle. The latter plans to petition the Supreme Court against the National Company Law Appellate Tribunal (NCLAT) order of December 20 which cleared Jio's proposed demerger of tower and fibre optic network assets to two infrastructure trusts. The clearance was in spite of I-T objections. The department argued that the proposed conversion of preference shares worth Rs 65,000 crore by Jio - by cancelling and then converting these into loans -- would substantially reduce the profit of the demerged company. And, so, cause huge loss of revenue to the department. In sum, a move to avoid and evade taxes, it contended. Jio denied the charges. An e-mail sent this week by this publication to Reliance for its views on the issue did not elicit a response.In July this year, Brookfield had said it would pay Rs ..
The venture is expected to be formed during the first half of 2020; it aims to expand RIL's retail fuel network to 5,500 in 5 years
Financial disincentive of Rs 47.5 lakh has been imposed on government-owned telecom firm BSNL, Rs 56 lakh on Tata Teleservices, Rs 34 lakh on Bharti Airtel
Free voice calls and dirt cheap data by billionaire Mukesh Ambani's Jio has wrecked havoc on the industry, which squeezed finances to match them