Indian business conglomerate Reliance Industries has raised a reported $1.5 billion, through a sale of a stake in its digital platform unit, Jio Platforms.
This is the third deal that the parent company of Reliance Jio has struck over the course of the month, bringing total investment into the Mukesh Ambani run firm to $8 billion.
Private equity firm Vista Equity Partners is set to take a 2.32 per cent stake in Jio Platforms, for a reported $1.5 billion.
In April this year, Reliance Industries announced that US social media giant Facebook was set to take a 9.99 per cent stake in the country’s biggest mobile network operator, Reliance Jio. The deal bought a reported $5.7 billion to Reliance Industries, which is attempting to pay down its mounting debt pile.
Earlier this week, Reliance Industries announced a $750 million investment from private equity firm Silver Lake.
The Vista Equity Partners deal was disclosed to the Mumbai stock exchange in a bourse filing made by the company on Thursday and was originally reported by the Deccan Herald.