Jio gets interest from more Global Investors after its deal with Facebook

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Jio Platforms, which had entered into Rs 43,574-crore affect Facebook, also has received similar interest from other global investors for extra stake buy, RIL said during a statement.
Jio Platforms will also launch a nation-wide video platform called Jio Meet and Jio Mart. It is looking to replicate the success of WeChat and Alipay in China as multipurpose super apps platforms with integrated chat functions, payment and financial services and online shopping.
Jio has offered double data and additional offnet minutes to all mobility add-on pack users, double data for all Jio Fiber users, complimentary 10 MBPS Jio Fiber plan,) extended validity of Jio Phone users for free incoming calls and provided 100 minutes call and 100 SMS to Jio Phone users among others. facenook In these times it has come up and helped its subscribers to continue providing connectivity all over the country.

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Reliance said, “In addition to the Facebook investment, the Board was informed that RIL has received strong interest from other strategic and financial investors and is in fine condition to announce an identical sized investment within the coming months.” within the half-moon , it announced that the another such investment would are available few months which can help Reliance strengthen and strategize future prospects. Also there are unconfirmed reports of company being in a parallel discussions with Google.

Facebook’s investment in Jio Platforms put the telecom major in India’s top five companies by market capitalization within four years of its launch.
“This is that the largest investment for a minority stake by a technology company anywhere within the world and therefore the largest FDI within the technology sector in India,” it had said. RIL announced its fourth quarter ended March 31, 2020 results on Thursday. The company registered a net profit of 6348 crores in this quarter. Thus, the company has the assets to launch into another investment for which global investors are seeking opportunities.

 

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