Reliance Industries Limited ‘s Jio has been roping in a lot of cash since the last few weeks and for good reason.
Jio announced today that it has managed to raise INR 60,596.37 crore (USD 8.19 billion) from investors in less than 21 days.
Vista Equity Partners is the latest investor to show interest in Jio and plans to invest INR 11,367 crore in exchange for an equity stake of 2.32%, as announced today.
Earlier, Facebook acquired a 9.9% stake in Jio on April 22 for INR 43,574 crore.
On May 4, US based Silver Lake shelled out INR 5655.75 crore for a 1.15% stake.
Reliance Industries Limited is planning to dominate the e-commerce arena in India and it has already made its first move.
JioMart has started testing it’s WhatsApp Inc. based online shopping portal in Navi Mumbai, Thane and Kalyan and plans to spread the pilot run of the project to different states despite the supply-related constraints.