- Reliance Industries has now sold just over a quarter of digital unit Jio Platforms, which houses its telecoms venture Jio Infocomm and its music and movie apps, raising $15.8B from investors including Facebook and KKR.
- The sale of a 0.39% stake to Intel (NASDAQ:INTC) for 18.95B rupees ($254M) gives Jio an enterprise value of 5.16T rupees ($69B).
- Reliance plans to wrap up most of its private fundraising for Jio Platforms by the third quarter of 2020 and then explore a potential public listing in the U.S. in 2021.