Having already invested in a 30% stake in China’s E-commerce giant Alibaba, Japanese investors, SoftBank is considering investing $2-$3 billion in Reliance Jio. According to a source, the companies have been in talks about the investment for a couple of years, and with Reliance Industries looking to deleverage their balance sheet, SoftBank could very well have a small stake in the company with their investment. In addition, Reliance Industries could sell 25% of their stake in their refining business to Saudi Aramco for $10-$15 billion.
With a current debt of Rs.76,212 crore and to make up for low tariffs that they have set for their services, Reliance Industries Limited is looking for equity investors to ensure that they carry on with their investments, said an analyst of the company.
Source: Business Standard