The dream time is running for Asia’s best Mukesh Ambani’s telecom company Jio. While most of the companies are going through a severe recession, the news of foreign companies investing in Jio is shocking to every company in the country.
After Facebook, General Atlantic, Silver Lake, Vista Equity Partners, and KKR, this time Mubadala. The Abu Dhabi-based company is set to invest Rs 9,093.8 crore to buy a 1.75 percent stake in Jio. Reliance’s digital unit has so far managed to attract Rs 8,755 crore in foreign investment.
Mubadala’s net worth now stands at 9229 billion The company has an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.17 lakh crore. The long-term lockdown has had a detrimental effect on trade and commerce around the world Most of the companies have suffered huge losses in the last few days In the business where most of Reliance’s income comes from, the picture of that Petrocom business is now very bad all over the world. As there is no demand for oil in the market, the price of oil is absolutely at the bottom
In this situation, Reliance’s trust is now the other business of the company Jio is in the most profitable position at the moment Despite the lockdown, Jio’s results in the last quarter of the last financial year are very good The Corona crisis has almost shut down trade and commerce around the world. Reliance Jio has tied the knot with so many foreign companies. According to analysts, Jio is now one of the most promising digital brands in the world. So interest has also been created around it among foreign investors.