Will Reliance shareholders get Jio shares?
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There is no chance. Jio as a company is a part of Reliance industries, so it is privately owned by a listed company. So you can’t really buy Reliance Jio shares individually, but to gain exposure of Jio’s growth you will have to buy shares of Reliance industries which are listed on the stock exchanges in India.
644.51 crore (6.44 billion). The promoter group, the Ambani family, holds approx. 49.38\% of the total shares whereas the remaining 50.62\% shares are held by public shareholders, including FII and corporate bodies.
What is Reliance Jio’s largest fund raise?
Reliance Industries Limited (RIL) announced the largest, fastest fund raise so far in India Inc of more than Rs 1.5 lakh crore though a 33\% stake sale in its subsidiary Jio Platforms to 13 marquee foreign investors.
Will RIL pay tax on stake sale to Jio platforms?
As it was Jio Platforms that issued the shares, RIL will not have to pay tax on the stake sale. Jio Platforms, too, would not have to pay tax though it issued shares at a tidy premium – that’s because the pricing of the shares took into account their fair value based on the report of an independent valuer.
What is total equity of Jio platforms in 2020?
Jio Platform’s total equity as on March 2020 comprised equity share capital (Rs 4,961 crore) + Other equity (Rs 1,77,064 crore) of optionally convertible preference shares (OCPS) issued to RIL. What was the initial assumption about sale of stake in Jio Platforms?
What is the internet speed of Reliance Jio?
Reliance Jio is equipped to offer data plans operating at speeds of 8 to 10 MBPS. The company has also invested in 500,000 sq.ft of data centers which are currently functioning in Noida, Nagpur, and Navi Mumbai. An additional 500,000 sq.ft of area will also become operational for the same prior to the commercial launch.