RIL primed for more Jio Platforms deals

After hawking a little over 22 per cent of its digital services arm to foreign investors, Reliance Industries may be hungry for more given the rich valuations it has bagged.

Analysts are not ruling out the possibility of Reliance bringing in more investors even though it has exceeded the initial estimate of monetising up to a 20 per cent of Jio Platforms.

On Saturday, the oil-to-telecom giant announced two more transactions with TPG picking up a 0.93 per cent stake for Rs 4,546.80 crore and L Catterton investing around Rs 1,895 crore for a 0.39 per cent stake in Jio Platforms.

It has, thus, collectively raised Rs 1.04 lakh crore from various global investors, including Facebook. Overseas investors now hold close to 22.38 per cent in Jio Platforms. If Reliance decides to take this further up to 25 per cent, it can still bring in over Rs 13,000 crore.