Microsoft Looks To Get Big Piece Of Reliance Jio With $2 Bn Investment

Jio Platforms which runs Reliance Jio, Jio Fiber, MyJio, JioTV, JioCinema, Jio Mart JioNews, JioSaavn and different platforms has as of now raised over $12.3 Bn from financial specialists recently. 

Tech monster Microsoft is allegedly hoping to join the procession of Reliance Jio Platforms, with reports of a $2 Bn interest in Reliance's advanced administrations' organization. 

According to a Mint report, Microsoft is in talks to acquire more than 2.5% stake in Jio Platforms for $2 Bn. However, the deal is said to be in the early stages and many details are yet to be finalised. If successful, Microsoft will be the third-largest investor in Jio Platforms, after Reliance Industries and Facebook. 

Microsoft and Reliance had formulated a partnership in August 2019 to offer free Reliance Jio network and Microsoft Azure cloud administrations to tech new companies and little and medium organizations in India by 2021. The intention was to quicken the digitisation of the Indian economy and drive the appropriation of cloud-based organizations. 

At that point, Reliance had said that it would offer Microsoft Office 365 profitability suite and email trade server backing to new companies. Other than this, the organization said it would construct new custom arrangements on Microsoft Azure for huge endeavours too in cutting edge innovations. 

In the recent months, Facebook has contributed $5.7 Bn (INR 43,574 Cr) for 9.99% of the organization's business, followed by KKR and Vista Equity Partners, who obtained 2.32% value stake in the organization, in return for $1.5 Bn (INR 11,367 Cr) each. Silver Lake and General Atlantic have contributed $746 Mn (INR 5,655 Cr) and $869 Mn (INR 6,600 Cr), individually, in Reliance Jio. The organization is supposed to be in converses with Saudi Arabia's $320 Bn sovereigns for potential interest in return for a minority stake. 

Reliance Jio and Reliance director Mukesh Ambani are supposed to be in conversations with banks for an abroad open posting of Jio Platforms. The organization is intending to show itself throughout the following 12 to two years, yet no official choice has been assumed the course of events and size of the posting.