Mukesh Ambani, chairman and managing director of Reliance Industries Ltd. Prashanth Vishwanathan/Bloomberg NewsAsia’s richest man Mukesh Ambani is on a roll. This is the third investment that Jio has attracted in the past two-and-a-half weeks, raising a total of $8 billion for a cumulative $13.5% stake. It started with a bang when social networking giant Facebook agreed to acquire close to 10% for $5.7 billion on April 22. Vista’s investment values Jio Platforms at the same amount as Silver Lake at $65 billion—a 12.5% premium to the Facebook deal. The company’s total annual revenue increased by 5% to $87.4 billion and it reported a net profit of $5.3 billion in the fiscal year ended March 2020.

Source: Forbes May 08, 2020 05:48 UTC