Techtonic

  Apart from its plans to launch affordable smartphones, developing low-cost laptops, and boosting 5G services in India, Reliance Jio has today announced to build the “largest” international submarine cable system in India. The system will include a network of subsea fiber-optic cable lines connecting India to the top interexchange points and content hubs around the world for extension of connectivity services. The Indian telecom giant has reportedly partnered with several global organizations and submarine cable suppliers SubCom to build the networking system. The company aims to create two interconnecting networking systems to aid the  “extraordinary growth in data demand across the region.” “For the first time in the history of fiber optic submarine telecommunications, these systems place India at the center of the international network map, recognizing India’s increased importance, staggering growth, and the quantum shift in data use since the launch of Jio ...

US Private Equity Firm KKR Invests $1.5 Billion in Reliance Jio By Techtonic group Reliance Industries on Friday announced a 2.32 percent stake sale in its telecom arm, Jio, to US-based private equity giant, KKR.  Worth Rs. 11,367 crores ($1.5 billion), the deal values Reliance Jio's digital business at Rs. 4.91 lakh crores (around $65 billion) . It is the fifth major deal in Jio over the past four weeks, helping Reliance Industries mop-up a combined Rs. 78,562 crores. The money is expected to help the company pay off a portion of its debts worth Rs. 1.62 lakh crores (around $21.4 billion ). "This transaction values Jio Platforms at an equity value of Rs. 4.91 lakh crores and an enterprise value of Rs. 5.16 lakh crores. This is KKR's largest investment in Asia and will translate into a 2.32 percent equity stake in Jio Platforms on a fully diluted basis" , Reliance Industries said in a statement. Reliance has announced a series of blockbuster deals over the...

Reliance Jio Secures $1.5 Billion Investment From Vista Equity Partners By Techtonic group Just a couple of weeks after  Facebook acquired a 10 percent stake in Reliance Jio  for $5.7 billion (around Rs 43,500 crores), the Indian telecom giant has  received a further investment of $1.5 billion  (around Rs. 11,300 crores), this time from American private equity firm, Vista Equity Partners. According to  Reuters , the investment would give the US investment firm a 2.32 percent stake in Reliance Jio Platforms, valuing the  Indian telecom giant  at $65 billion (Rs. 4.91 lakh crores). The latest big-ticket investment in Reliance Jio comes just over two weeks after Facebook's blockbuster investment and just a few days after American private equity firm,  Silver Lake, announced an investment of $750 million  (around Rs. 5,600 crores) for a 1.15 percent stake in the company. Together, the three new deals have now earned Reliance Industrie...