The US-based company bought a two per cent holding in Reliance Jio for Rs 11,367 crore

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Mumbai, May 08, 2020, Friday

Reliance Industries, led by billionaire Mukesh Ambani, has raised Rs 11.5 crore by selling more than two per cent holdings on its digital unit Geo Platforms.

With this, the company has raised Rs 30,6.5 crore in just three weeks. Through which Reliance Industries will reduce its debt. Shares of Reliance Industries rose by Rs 4.5 to close at Rs 131.50 today.

Reliance Industries said in a statement that its telecom venture Reliance Infocomm has an equity value of Rs 2.31 lakh crore and an enterprise value of Rs 3.18 lakh crore. Vista Equity, a US-based private equity firm, has bought a 7.5 per cent stake in Geo Platforms. Earlier, Facebook had struck a deal to buy a 2.5 per cent holding on Geo platforms for Rs 4.5 crore and another PE venture Silver Lake had agreed to buy a one per cent holding.

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