RIL in talks to sell more stake in Jio Platforms

The talks with New York-based private equity firm General Atlantic to sell a 2% stake in Jio Platforms for ₹10,000 crore are among a series of stake sale initiatives by Reliance Industries Ltd (RIL) to build confidence among potential investors as it heads for a mega rights issue, said two people on condition of anonymity.

On April 30, RIL had announced plans to raise ₹53,125 crore through a 1:15 rights issue (one new share for every 15 shares held) at an offer price of ₹1,257 a share. The record date for the issue is May 14.

“This is a very large rights issue, considering the current market sentiment. The overall market sentiment is subdued. There is a lot of economic uncertainty.