Silver Lake to invest Rs 5,655.75 crore in Jio Platforms, says Reliance Industries

Reliance Industries Limited on Monday announced that private equity firm Silver Lake will invest Rs 5,655.75 crore in its digital arm, giving it a valuation of Rs 4.90 lakh crore.

The fresh deal came days after Facebook announced an investment of Rs 43,574 crore to buy a 9.99 per cent stake in Jio Platforms, which is the digital services entity.

“Reliance Industries Limited (“Reliance Industries”) and Jio Platforms Limited (“Jio Platforms”) announced today that Silver Lake will invest Rs 5,655.75 crore into Jio Platforms. This investment values Jio Platforms at an equity value of Rs 4.90 lakh crore and an enterprise value of Rs 5.15 lakh crore and represents a 12.5% premium to the equity valuation of the Facebook investment announced on April 22, 2020,” the statement said.

Mukesh Ambani, Chairman and Managing Director, Reliance Industries Ltd, said, “I am delighted to welcome Silver Lake as a valued partner in continuing to grow and transform the Indian digital ecosystem for the benefit of all Indians.”

“Silver Lake has an outstanding record of being a valuable partner for leading technology companies globally. Silver Lake is one of the most respected voices in technology and finance. We are excited to leverage insights from their global technology relationships for the Indian Digital Society’s transformation,” Ambani added.

Commenting on the investment, Egon Durban, Silver Lake Co-CEO and Managing Partner, said, “Jio Platforms is one of the world’s most remarkable companies, led by an incredibly strong and entrepreneurial management team who are driving and actualizing a courageous vision….. The market potential they are addressing is enormous, and we are honored and pleased to have been invited to partner with Mukesh Ambani and the team at Reliance and Jio to help further the Jio mission.”

Reliance Jio Infocomm Limited, which provides connectivity platform to over 388 million subscribers, will continue to be a whollyowned subsidiary of Jio Platforms.

“In the wake of the severe economic disruptions caused by the COVID-19 pandemic, globally and especially within India, this partnership with one of the most renowned tech-investors globally, Silver Lake, has special significance. Comprehensive digitisation will be a vital component of the revitalisation of the Indian economy,” the statement said Source:  http://tehelka.com

Read More........ → June 28, 2020

Russia-Reliance Group pact for 197 defence choppers

New Delhi: A defence arm of the Anil Ambani-led Reliance Group has been picked for another project by the Russian government -- this time for a Rs.6,000-crore ($925 million) potential deal to make 197 helicopters for the Indian Army and the Indian Air Force, informed sources said on Friday. Touted as among the largest deals under the "Make in India" programme, it calls for making 197 Kamov 226T choppers to retire the Chetak-Cheetah fleet that has been key inventory in frontline operations for over 30 years, notably in difficult terrain like Siachen, the sources added. "We are committed to actively participating in Prime Minister Modi's 'Make in India' and 'Skill India' program," the spokesperson for Reliance Defence said when asked for the company's comment on the deal, which involves manufacture of these light utility helicopters in the country. "The manufacture of both military and civil helicopters to meet the needs of the country are a significant part of this commitment," the spokesperson added. It is reliably learnt that the project is to be executed under a new joint venture, for which the chosen Indian partner is a newly set-up chopper arm of Reliance Defence -- which, in turn, is a subsidiary of Reliance Infrastructure. The process is on to acquire an industrial licence.Russian President Vladimir Putin had pushed for the Ka-226T during the summit with Prime Minister Narendra Modi here last December. Upon agreeing to be make these choppers in India, Russia was offered an initial deal for 200 of these helicopters with the potential for another 400. In May, the Defence Acquisition Council chaired by Defence Minister Manohar Parrikar cleared the proposal.Now, after extensive talks, the Russian government has communicated to New Delhi that it will be implementing the project in a joint venture with an Indian company -- and that the partner so chosen is Reliance Helicopters. It also involves transfer of technology, sources said. Earlier this month, Pipavav Defence, a part of the Reliance Group, was selected by Zvyozdochka Shipyard of Russia for the refit of 24 EKM 877 submarines in India, in a deal potentially worth worth Rs.30,000 crore.The company, the controlling stake of which was acquired by the Reliance Group earlier this year, was also selected by United Shipbuilding Company of Russia for the manufacture of four Talwar-class frigates, according to sources. The company is also said to be a strong contender to build six advanced submarines for the navy, along with five other firms, for which the Indian government is expected to float a request for proposal soon. This deal is potentially worth Rs.60,000 crore. Source: http://www.bharatdefencekavach.com, Image: https://upload.wikimedia.org

Read More........ → September 10, 2015

Nita Ambani unveils Hero Indian Super League trophy

Hero Indian Super League unveils the Pride of Indian Football in Mumbai Today. Mrs Nita Ambani said that its momentous day for all of us.

Mrs Nita Ambani, founder & chairperson of Football Sports Development today unveiled the pride of Hero Indian Super League, the glittering Trophy here amidst glitz and glamour. Joining her at the momentous occasion were world footballing legends and icon players of eight Hero Indian Super League clubs -Fredrik Ljungberg (Mumbai City FC), Alessandro Del Piero (Delhi Dynamos FC), Joan Capdevila (NorthEast United FC), David Trezeguet (FC Pune City), RobertPirès (FC Goa), Mikaël Silvestre (Chennaiyin FC), Luis Garcia (Atlético de Kolkata) and David James (Kerala Blasters FC), coming together for the first time on one stage in India, and probably the world. The meticulously detailed and chiselled to perfection, Hero Indian Super League trophy is a labour of love, a celebratory symbol of grand triumph which will add crowning glory to the spectacle of Indian Football. Speaking on the occasion, Mrs Nita Ambani said, “It’s a momentous day for all of us today as I stand along with the world’s footballing legends to unveil the pride of Indian Super League. As these role models have inspired hundreds of thousands of players worldwide, I am sure the ISL trophy will also stand as a symbol of aspiration for many youngsters in an emergent India. “The Indian Super League trophy is detailed to perfection by Indian artisans who were trained in London, thus exemplifying the genius of Indian artistry and world-class craftsmanship. Its ‘made in India’ design embodies our love and passion for this beautiful game and it equally represents our ‘made for world’ aspirations.” Mr. Sanjay Gupta, COO, Star India, further added, “The Hero Indian Super League is a marquee football tournament wherein accomplished footballers, who have excelled on the international stage along with best-of-the-best of Indian football, will get to compete for the ultimate honour and it is only befitting that they compete for one of the most exquisite trophies ever crafted. With Hero Indian Super League well placed to fuel the birth of a footballing nation, I am confident that this will become one of the most coveted trophies in Indian football in the years ahead.” Designed by Frazer And Haws, the Hero Indian Super League trophy stands 26 inches tall. The logo on the top band has the ISL colours assigned to it and the handles are ornately carved and embellished with 24k gold gilt to imbue a sense of pride when held up. Source: Article

Read More........ → October 06, 2014