Techtonic

Microsoft Eyes Massive $2 Billion Investment in Jio Platforms; Report By Techtonic group After picking up an  investment  from Facebook, Reliance Jio now seems to be on the radar of every investment firm. This subsidiary of Reliance Industries has sold a 17% stake, bagging investments from the likes of  Silver Lake, KKR, and others . Now, the company's long-standing partner Microsoft is also looking to pitch in more than $2 billion and grab a sizeable piece of the pie. As per a recent  Hindustan Times report , Microsoft is eyeing a $2 billion investment in Jio Platforms for a 2.5% stake. Jio's valuation currently sits at around $65 billion. This will be the  sixth investment in Jio Platforms  within a span of close to two months if it goes through. All of them being from American firms. Sources aware of the development suggest that the discussions are in early stages. The details are yet to be finalized but it will bring Jio Platforms a step clo...

Reliance Eyes Overseas IPO for Facebook-backed Jio Platforms By Techtonic group Jio Platforms, the digital and telecom subsidiary of Reliance Industries, has been in the news quite frequently over the past month. It first secured a  massive investment  from Facebook, followed by four other global players, to attract more $10 billion in a month. Now, a fresh report from  Bloomberg  suggests that Reliance has started prepping for an overseas listing of Jio Platforms. Unnamed sources close to the development reveal that Mukesh Ambani, the chairman of Reliance Industries and Asia's richest man, has begun early preparations for an IPO. The company is said to be in early talks with banks and the  IPO can happen in the next 12 to 24 months . Morgan Stanley is currently in the run to be  appointed as the lead banker  for the overseas listing. Citibank and Bank of America Merrill Lynch, on the other hand, could be in charge of the IPO procedures. Th...

Reliance Jio Discontinued its Cheapest Prepaid Plan Worth Rs 98 By Techtonic group As part of its continuing efforts to increase tariffs and improve ARPUs,  Reliance Jio  has quietly discontinued its cheapest prepaid plan, worth Rs. 98. Following the development, the cheapest combo plan being offered by the company is the Rs. 129 STV that offers 2GB of data along with unlimited Jio-Jio voice calls, 1000 minutes of non-Jio calling and 100 free SMSes daily for 28 days. The change will hit marginal users who barely use any data and make only a few occasional calls. It comes just over a week after the company  launched its most expensive prepaid plan  in terms of cost per-month. Priced at Rs. 999, the so-called ‘Work From Home plan’ comes with 3GB of daily full-speed data, unlimited on-net voice calls and 3,000 minutes of off-net calls alongside 100 SMSes per day for a period of 84 days. The latest change to Jio's tariff structure is keeping in line with the ...

General Atlantic invests $870 Million in Reliance Jio By Techtonic group Private equity firm, General Atlantic has today invested $870 million in Reliance Jio Platforms, continuing a series of investments in the Mukesh Ambani owned company. With this investment, General Atlantic has  bought a 1.34% stake in Jio Platforms . General Atlantic's investment  values Jio Platforms at $65 billion , which is the same valuation as that of the  Silver Lake investment  in Jio, and  Vista Equity Partners investment  in the company. In just the last month, Jio has raised  $8.85 billion by selling around 14.7% stake of the company  to foreign investors. This includes investments by Facebook, Vista, Silver Lake, and General Atlantic. The company has been an attractive investment option for foreign companies looking to get into India's fast growing internet market. Jio is a major player there, and it's the  biggest telecom operator in Delhi  ...

Reliance Jio Launches 3GB/Day Plan With 84-Day Validity for ₹999 By Techtonic group With demand for mobile data soaring over the past couple of months because of teleconferencing and video-streaming, the  nation's largest mobile service provider, Reliance Jio  has announced a  3GB per day plan with 84-day validity . Priced at Rs. 999, the 'Work From Home plan' offers  unlimited free on-net voice calls and 3,000 minutes of off-net calls  alongside 100 SMSes per day. Like all other standard recharge vouchers, it also offers  complementary access to all Jio apps , including Jio TV, Jio Cinema, JioSaavn and more. In an official statement, Jio said that the plan was announced keeping in mind the needs of people working from home during the lockdown. According to the company:  "Ever since of lockdown, the need of high-speed data has increased, many people have started working from home and also have been looking for more entertainment. Considerin...