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“Silver Lake has an outstanding track record of being a valued partner to the world’s top technology companies,” said RIL President Mukesh Ambani. According to Reuters, Silver Lake has approximately $ 40 billion in assets under management, and its portfolio includes social media firm Twitter and computer hardware maker Dell Technologies.
The deal highlights RIL’s ability to attract investors even during a pandemic. According to S&P Global Market Intelligence, private equity transactions in the US. USA They fell by more than 21% in volume and 8.4% in value in the first quarter. The pandemic-induced drop in oil prices had also reached RIL, with consolidated earnings falling 39% to Rs 6,348 crore in the quarter ending March 31, due to a one-time loss of Rs 4,267 crore . But Jio, with his 387.5 million subscribers and the promises of his content offering, seems resilient.
In a new impetus, RIL last week said Saudi Aramco’s due diligence on a planned investment – worth $ 15 billion – in its petrochemical business “is on the way as both parties are actively engaged and engaged” .
Moody’s Investors Service said the investment shows RIL’s ability and willingness to monetize its digital services business to reduce its debt to zero at the end of this fiscal year. As of March 31, RIL had an outstanding debt of Rs 3.36 lakh crore ($ 44.4 billion); Considering its cash and cash equivalents of Rs 1.75 lakh crore, the net debt was around Rs 1.6 lakh crore ($ 21.2 billion).
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