SENSEX
NIFTY 50
Hang Seng
Taiwan Weighted
MCX GOLD AUG 05
MCX SILVER SEP 04
USD/INR
EUR/INR80.0630

SENSEX
NIFTY 50
NIFTY MIDCAP 100
S&P BSE MIDCAP
Hang Seng
Taiwan Weighted
DAX
Nasdaq
MCX GOLD AUG 05
MCX SILVER SEP 04
MCX CRUDEOIL AUG 19
MCX NATURALGAS AUG 26
USD/INR
EUR/INR
GBP/INR
JPY/INR

Closing Bell: Nifty ends below 10,900, Sensex sheds 667 points as financials drag

Global stocks on defensive as US-China tensions spook investors

Oil rises on weaker dollar, but virus woes and US-China tensions weigh

Rupee ends marginally lower; appreciates by 0.24% for the week

Market

RIL shares gain after two more investments in Jio Platforms, slip later

Updated : June 15, 2020 01:55 PM IST

TPG will invest Rs 4,547 crore in Jio Platforms for a 0.93 percent stake.

L Catterton will invest Rs 1,894.50 crore in Jio Platforms for a 0.39 percent stake.

The share price of Reliance Industries Ltd (RIL) gained over 1 percent in the early trade on Monday after the company secured two major investments worth Rs 6,441.5 crore for its digital subsidiary Jio Platforms over the weekend.

The stock rose as much as 1.19 percent to Rs 1607.85 apiece on the BSE. However, the stock slipped later, trading 1 percent lower at Rs 1,572 per share at 12:43 pm.

RIL, on Saturday, announced that the global investment firm TPG will invest Rs 4,547 crore in Jio Platforms for a 0.93 percent stake. Similarly, private equity firm L Catterton will invest Rs 1,894.50 crore in Jio Platforms for a 0.39 percent stake, making it the tenth public investment in the Reliance Industries’ technology arm in seven weeks.

TPG, with $120 billion of assets under management, owns stakes in global names like Airbnb, Uber, and Spotify among others while L Catterton is the largest consumer-focused private equity firm in the world, managing roughly $20 billion of equity investments globally.

These investments value Jio Platforms at an equity valuation of Rs 4.91 lakh crore and an enterprise valuation of Rs 5.16 lakh crore.

With these investments, Jio Platforms has raised Rs 104,326.95 crore from leading technology investors including Facebook, Silver Lake Partners (two tranches), Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, TPG and L Catterton. This is also the largest continuous fund raising by a company, globally.

Meanwhile, Reliance Industries' partly paid rights issue shares made a strong debut on the exchanges on Monday with getting listed at a premium.

The shares got listed at Rs 690 on the NSE as against its intrinsic value Rs 397 apiece. The intrinsic value is based on Friday’s closing price of Rs 1,589, and constitutes 25 percent of a fully paid-up RIL share.

After opening, the rights issue shares soon hit the upper circuit of 10 percent at Rs 710.65. The rights issue shares were listed separately with a unique ISIN number IN9002A01024 and the scrip ID or Symbol will be RELIANCEPP on BSE and NSE.

You May Also Like

Trump signs executive order against hiring H1B visa holders for federal contracts

Trump signs executive order against hiring H1B visa holders for federal contracts

Stock Market Highlights: Market ends over 1% lower, dragged by RIL, financials; UPL top Nifty50 loser

Stock Market Highlights: Market ends over 1% lower, dragged by RIL, financials; UPL top Nifty50 loser

Banks sanction Rs 1.36 lakh crore under emergency credit scheme: CARE Ratings

Banks sanction Rs 1.36 lakh crore under emergency credit scheme: CARE Ratings

Trending on CNBC-TV18

Live TV

recommended for you