RIL digital biz eyes more investors

RIL on Thursday hinted about more monetising opportunities at Jio Platforms Ltd (JPL) — its subsidiary that houses all its digital services initiatives.

This comes after Facebook invested $5.7 billion, or Rs 43,574 crore, for a 9.9 per cent stake in Jio Platforms. In October last year, RIL announced the creation of a subsidiary that brought all its existing digital platform initiatives under a single umbrella.

The objective was to create a holding company in the lines of Alphabet Inc or Alibaba Holdings and unlock value by bringing in strategic investors either in the subsidiary or in its arms as well.

In a statement, RIL said that Jio Platforms has received interest from other global investors for a similar sized additional stake.