State Of Qatar Can Invest Rs 11,000 Crore In Reliance For Optic Fiber Business Of JioFiber
State of Qatar controlled Qatar Investment Authority can soon invest Rs 11,000 crore in Reliance Jio, for developing and expanding their optic fiber business.
Reliance has already raised more than $20 billion or Rs 1.48 lakh crore from various investors, and this new investment from Qatar can further amplify their funding goals and widen their investment chest.
Qatar Investment Authority Can Invest $1.5 Billion In Reliance Jio
As per reports coming in, Qatar Investment Authority is all set to invest $1.5 billion or Rs 11,000 crore in Reliance’ infrastructure investment trust (InvIT), which holds optic fiber business of Reliance, under JioFiber.
Reliance has already hired Citigroup Global Markets, Moelis and Co. and ICICI Securities as investment partners, and an official statement can come any moment now.
From the looks of it, it seems that Qatar Investment Authority wants a slice of JioFiber business, and can buy an equity stake in return of Rs 11,000 crore investment.
No official announcement or confirmation has come in from Reliance on this matter.
Qatar Investment Authority is a sovereign wealth fund, controlled and managed by State of Qatar. It was founded in 2005 by then-emir of Qatar, Hamad bin Khalifa Al Thani, primarily to manage natural oil and gas supplies of State of Qatar.
Reportedly, they own $170 billion of assets, and this can be their 1st major investment in India.
Reliance Has Raised Rs 1.52 Lakh Crore From Investors As Of Now
In the last few months, Mukesh Ambani owned Reliance Industries opened their floodgate to take in massive investments from key investors and global organizations.
Companies like Facebook, Google, Silver Lake Partners, Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, TPG, L Catterton, PIF, Intel have already invested in Reliance, for their different business verticals.
Recently Google announced a massive investment of Rs 33,000 crore in Reliance Jio to acquire 7.73% stake in the company.
We will keep you updated, as more details come in.