Reliance Jio, the telecom company of billionaire industrialist Mukesh Ambani, has raised Rs 60,596.37 crore capital from world investors in the last 3 weeks. Also, Reliance Jio has set a record in terms of achieving such a high market value in a short period of time after starting its commercial operations. It is noteworthy that Reliance Jio started its commercial operations in September 2016 and since then the market value of the company has crossed 5 lakh crores in a period of 3.5 years.
With this valuation, Reliance Jio platform has entered the top 5 companies with the highest market cap listed in India. However, Reliance Jio platform is not a separately listed company in the stock market. In terms of market cap, it has outperformed years-old companies HDFC and Infosys.
Reliance Jio has more than doubled its market capitalization compared to Bharti Airtel. Bharti Airtel has a total market capitalization of Rs 2.87 lakh crore as of May 7, 2020. In April, Facebook announced the acquisition of 9.99 percent stake in Jio for Rs 43,574 crore. This is Facebook’s largest investment ever since it bought WhatsApp in 2014 for $ 22 billion. After this, on May 4, US private equity company Silver Lake Partners bought a 1 percent stake in Jio for Rs 5655.7 crore.
On Friday, May 8, another US-based investor investor Vista Equity Partners announced to buy 2.32 percent stake in Reliance Jio platform for Rs 11,367 crore. With this investment, Vista became the third largest investor company in Reliance Jio after Reliance Industries and Facebook.