Jio has announced today that Silver Lake will invest ₹ 5,655.75 crore into Jio Platforms. This investment values Jio Platforms at an equity value of ₹ 4.90 lakh crore and an enterprise value of ₹ 5.15 lakh crore and represents a 12.5% premium to the equity valuation of the Facebook investment announced on April 22, 2020.
With approximately $40 billion in combined assets under management, Silver Lake is the global leader in large-scale technology investing. Its mission is to build and grow great companies by partnering with world-class management teams. Its investments have included Airbnb, Alibaba, Ant Financial, Alphabet’s Verily and Waymo units, Dell Technologies, Twitter and numerous other global technology leaders.
The Reserve Bank of India has given the green signal to payment networks — Visa, Mastercard and NPCI — to allow tap-and-go functionality on card payments for all purchases below Rs. 2000. “It should be a matter of three months if all goes well.” -an official told ET.
Since the rollout of ordering via WhatsApp, JioMart has doubled weekly credit limit and has allocated one executive each for kirana stores to manage orders and inventory, 90% of which is sourced through the Reliance Retail network.
“We’re going to lose anywhere from 75, 80 to 100,000 people. That’s a horrible thing,” said Trump, who as recently on Friday had said he hoped fewer than 100,000 Americans would die and earlier in the week had talked about 60,000 to 70,000 deaths.
A new private-public partnership initiative called Aarogya Setu Mitr, available on the Aarogaya Setu app, will offer free online Covid-19-related consultation from the Tata Group, Tech Mahindra and Swasth, which is a collaboration of other related entities.