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Microsoft plans to invest $2 billion in Jio Platform - Business2Business

Microsoft plans to invest $ 2 billion in Mukesh Ambani's Reliance Jio platform for a 2.5 percent stake, according to Mint's report.

“Microsoft has been in discussions with several players in the digital payment services industry. One person familiar with the matter with Reliance said Microsoft is interested in buying more than 2.5%  stake in Jio Platforms.”

Another person said that it was not yet clear that this investment will proceed further.

Microsoft plans to invest $2 billion in Jio Platform

The Jio platform recently raised more than $ 12.3 billion via five foreign entities, Facebook, Vista Equity Partners, Silver Lake, General Atlantic, and KKR to pare its debt, and the company is now looking to make a deal with Microsoft. If this agreement occurs, it will be the sixth-largest investment in the Jio platform.

Facebook acquired a  9.9 percent stake in  RIL for Rs. 43.574 crore and private equity firm Silver Lake Partners owned a 1.15% stake in Jio Platforms for Rs. 5,655 crore. On the other hand, Vista Equity raised a 2.32% stake on a fully diluted basis of Rs. 11,637 crore. General Atlantic invested Rs. 6.98.38 crore for 1.34 percent stake in Jio Platforms. On May 22, KKR poured Rs 11,367 crore into Jio Platforms for a 2.32 percent stake.

In August 2019, Microsoft and Reliance collaborated and offered free Reliance Jio connectivity and Microsoft Azure cloud services to tech startups and SMEs in India by 2021. The purpose of the partnership is to increase digitalization in India and drive the adoption of cloud-based services across businesses.

Source: Economic Times

Also Read: Mukesh Ambani prepares Facebook-backed Jio Platforms for overseas IPO

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