Reliance Industries shares close flat
In early trade, shares of Reliance Industries hit one-year high after the company announced sale of 1.85 per cent stake in its digital unit, Jio Platforms, to Abu Dhabi-based sovereign investor Mubadala.
On the BSE, the heavyweight stock closed at Rs 1,580.60, up 0.04 per cent after rising 2.38 per cent to Rs 1,617.70 -- its 52-week high -- during the day.It closed at Rs 1,579.20, a marginal decline of 0.03 per cent on the NSE after surging 2.41 per cent to its one-year high of Rs 1,618 during the trade. Advertisement
Earlier in the day, Reliance Industries announced the sale of 1.85 per cent stake in its digital unit to Mubadala for Rs 9,093.60 crore, the sixth deal in as many weeks that will inject a combined Rs 87,655.35 crore in the oil-to-telecom conglomerate to help it pare debt.
"Mubadala Investment Company (Mubadala) will invest Rs 9,093.60 crore in Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore," the company said in a statement.With this investment, Jio Platforms has raised Rs 87,655.35 crore from leading global technology and growth investors including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR and Mubadala in less than six weeks.
Jio Platforms, a wholly-owned subsidiary of Reliance Industries Ltd, is a next-generation technology company. SUM HRS
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