Why is Jio getting investments?
Social distancing has meant increased usage of technology and digital solutions, which is driving investors towards tech companies. RIL has tapped into this heightened interest for technology investments by positioning Jio as a digital platform company.
Why did Mark Zuckerberg invested in Jio?
Small businesses and supporting them is a key focus of Facebook and Reliance Jio’s partnership in India, according to Mark Zuckerberg, who spoke at the company’s ‘Facebook Fuel for India’ event. … The Facebook CEO also noted that the company tests many of its new features in India first before it rolls them out globally.
Why is reliance selling stake in Jio?
‘Qualcomm Ventures’ investment will translate into a 0.15 per cent equity stake in Jio Platforms on a fully diluted basis,’ the company said in a statement. With this deal, Reliance has sold 32.97% stake in Jio Platforms Ltd — the unit that houses India’s youngest but largest telecom firm Jio Infocomm and apps.
Is Jio really profitable?
Reliance Jio has reported a profit decline of nearly 4% with net profit of ₹3,508 crore. During the March quarter, Jio added over 15 million new subscribers, after a disappointing December quarter. Jio also witnessed a major slump in average revenue per user (ARPU), which fell to ₹138.2, a decline of over 8%.
Why is Reliance Jio so cheap?
Originally Answered: Why is Jio so cheap? Soon it will increase price but still be cheaper due to usage of VOLTE technology. Other companies still use 3G/2G which is much costlier for them!
Did Ambani buy Facebook?
Mukesh Ambani gave Google and Facebook a discount on Reliance Jio stake — here’s why. Google’s $4.5 billion cheque and Facebook’s $5.7 billion investment were a cheaper deal than the rest. Both the deals had a different equity valuation for Jio than the other financial investors who also paid a 12.5% premium.
Did Mark Zuckerberg invested in Jio?
In April 2020, Facebook purchased a 9.9 percent stake in RIL’s telecom unit Jio for $5.7 billion (Rs 43,574 crore).
Is Mukesh Ambani on twitter?
Mukesh Ambani (@MukeshAmbanima) | Twitter.
How much debt is Jio?
Reliance Jio reported a total debt of nearly 232 billion Indian rupees in fiscal year 2020.
|Characteristic||Value in billion Indian rupees|
Why did Mukesh Ambani sell stakes?
The oil-to-telecom conglomerate has reportedly offered to sell stakes to all the investors who invested money in Jio platforms in the last fundraising round that helped the company raise $20 billion, making it net debt-free much ahead of the deadline set by Ambani, Asia’s richest man, in 2019 AGM of the company.
How much stake of Jio is sold?
Since April 2020, Reliance Industries has raised ₹152,056 crore (US$21 billion) by selling 32.97% equity stake in Jio Platforms.
|Company Owner||Mukesh Ambani|
Is Jio losing customers?
The company lost 0.2 million active subscribers and its market share of active user base declined to 26.1%. As of February, Bharti has the highest number of active subscribers at 340 million, followed by Jio at 324 million and Vodafone Idea at 256 million.
Does Jio break even?
KOLKATA: Reliance Jio Infocomm is likely to break even at the Ebitda (earnings before interest, taxes, depreciation & amortisation) level by FY18 with at least 83 million customers generating an ARPU (average revenue per user) of Rs 246 per month, analysts and experts said, enthused by the 4G newcomer’s strong 60% …
How much should I invest in Jio?
Reliance Jio has received a flood of investment in recent months. It has raised a total of Rs 1.52 lakh crore by selling almost 33 per cent stake to 13 financial and strategic investors in only 11 weeks, helping to cut down RIL’s net debt target for the full fiscal year.