Jio Platforms is an Indian multinational

technology company A technology company (or tech company) is an electronics-based technological company, including, for example, business relating to digital electronics, software, and internet-related services, such as e-commerce services. Details According to '' ...

, headquartered in

Mumbai Mumbai (, ; also known as Bombay — the official name until 1995) is the capital city of the Indian state of Maharashtra and the ''de facto'' financial centre of India. According to the United Nations, as of 2018, Mumbai is the secon ...

. It is a subsidiary of

Reliance Industries Reliance Industries Limited is an Indian multinational conglomerate company, headquartered in Mumbai. It has diverse businesses including energy, petrochemicals, natural gas, retail, telecommunications, mass media, and textiles. Relian ...

. Established in 2019, it acts as a

holding company A holding company is a company whose primary business is holding a controlling interest in the securities of other companies. A holding company usually does not produce goods or services itself. Its purpose is to own shares of other companies ...

for India's largest

mobile network operator A mobile network operator (MNO), also known as a wireless service provider, wireless carrier, cellular company, or mobile network carrier, is a provider of wireless communications services that owns or controls all the elements necessary to sel ...

Jio and other digital businesses of Reliance. Since April 2020, Reliance Industries has raised by selling 32.97% equity stake in the company. In August 2021, it was ranked 155th on the 2021 Fortune Global 500 list of world's biggest corporations.

History

In October 2019, Reliance Industries Limited (RIL) announced the creation of a wholly owned subsidiary for its digital businesses including Jio. In November 2019, the subsidiary was named Jio Platforms. The liability of Jio was transferred to RIL and in turn RIL received preferential shares of Jio Platforms. According to some observers, the restructuring was done to keep the digital businesses of the group within a debt-free entity. In April 2020,

Meta Platforms Meta Platforms, Inc., (file no. 3835815) doing business as Meta and formerly named Facebook, Inc., and TheFacebook, Inc., is an American multinational technology conglomerate based in Menlo Park, California. The company owns Facebook, Insta ...

(then Facebook Inc.) acquired a 9.99% stake in Jio Platforms for . According to this deal, while Jio Platforms retained , the parent company got the remaining for redeeming the optionally convertible preference shares it held in the subsidiary. In May 2020, private equity firm

Silver Lake Partners Silver Lake is an American global private equity firm focused on investments in technology, technology-enabled and related industries. Founded in 1999, the firm is one of the largest technology investors in the world. Its investment holdings hav ...

obtained a 1.15% stake with a investment in the company. But unlike the previous transaction, the entire investment in this case was retained by Jio Platforms. General Atlantic then announced that it would invest in Jio Platforms for a 1.34% stake in the company. American PE firm

KKR KKR & Co. Inc., also known as Kohlberg Kravis Roberts & Co., is an American global investment company that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate, credit, and, through its strateg ...

acquired a 2.32% stake in Jio Platforms for . In June 2020, Emirati sovereign fund

Mubadala Mubadala Investment Company PJSC ( ar, شركة مبادلة للاستثمار), or simply Mubadala, is an Emirati state-owned holding company that acts as a sovereign wealth fund. The company was established in 2017 when then-named Mubadala De ...

confirmed that it would acquire a 1.85% stake in the company for . Silver Lake increased its stake to 2.08% with an additional investment.

Abu Dhabi Investment Authority The Abu Dhabi Investment Authority ( ar, جهاز أبوظبي للاستثمار, ADIA) is a sovereign wealth fund owned by the Emirate of Abu Dhabi (in the United Arab Emirates) founded for the purpose of investing funds on behalf of the Go ...

then bought a 1.16% stake in the company for . On 13 June, TPG Capital, an investment company, took stake in Jio platform of 0.93% worth . Catterton also made an investment of for a 0.39% stake. In June 2020, Saudi Arabia's sovereign fund PIF confirmed that it would acquire a 2.32% stake in the company for . In July 2020,

Intel Intel Corporation is an American multinational corporation and technology company headquartered in Santa Clara, California. It is the world's largest semiconductor chip manufacturer by revenue, and is one of the developers of the x86 ser ...

confirmed that it would acquire a 0.39% stake in the company for . In July 2020,

Qualcomm Qualcomm () is an American multinational corporation headquartered in San Diego, California, and incorporated in Delaware. It creates semiconductors, software, and services related to wireless technology. It owns patents critical to the 5G, ...

confirmed that it would acquire a 0.15% stake in the company for . This was followed by

Google Google LLC () is an American Multinational corporation, multinational technology company focusing on Search Engine, search engine technology, online advertising, cloud computing, software, computer software, quantum computing, e-commerce, ar ...

purchase of 7.7% stake in the company for . In June 2021, Jio Platforms unveiled their Android smartphone named JioPhone Next, with plans to launch in India by September 2021. In February 2022, Jio Platforms formed a joint venture with satellite operator SES. The newly formed Jio Space Technology Limited will deliver broadband services in India of up to 100Gbps capacity using SES's SES-12 high-throughput

geostationary A geostationary orbit, also referred to as a geosynchronous equatorial orbit''Geostationary orbit'' and ''Geosynchronous (equatorial) orbit'' are used somewhat interchangeably in sources. (GEO), is a circular geosynchronous orbit in altitud ...

satellite and the forthcoming O3b mPOWER

medium Earth orbit A medium Earth orbit (MEO) is an Earth-centered orbit with an altitude above a low Earth orbit (LEO) and below a high Earth orbit (HEO) – between above sea level.

satellite constellation A satellite constellation is a group of artificial satellites working together as a system. Unlike a single satellite, a constellation can provide permanent global or near-global coverage, such that at any time everywhere on Earth at least one s ...

, to extend JPL’s terrestrial network, enhancing access to digital services in unconnected areas within India and the region. JPL and SES will own 51% and 49% equity stake respectively in the new company.

Ownership

Businesses

Consumer platforms

* Jio, telecommunications and broadband services *Jio Apps **MyJio **JioTV, live TV streaming app ** JioCinema, video-on-demand app **

JioSaavn JioSaavn is an Indian online music streaming service and a digital distributor of Hindi, English, Malayalam, Bengali, Kannada, Tamil, Telugu, Bhojpuri and other regional Indian music around the world. Since it was founded in 2007 as Saavn ...

, an online music streaming service **

JioChat Reliance Jio Infocomm Limited, doing business as Jio, is an Indian telecommunications company and a subsidiary of Jio Platforms, headquartered in Navi Mumbai, Maharashtra, India. It operates a national LTE network with coverage across all 2 ...

, messaging app **

JioMeet Reliance Jio Infocomm Limited, doing business as Jio, is an Indian telecommunications company and a subsidiary of Jio Platforms, headquartered in Navi Mumbai, Maharashtra, India. It operates a national LTE network with coverage across all 2 ...

, video-conferencing platform **JioStore, app store for Jio STB **JioGamesCloud, Jio's cloud gaming service **JioPages, web browser **JioPay, digital payments and financial services app **JioSwitch, file sharing app **JioNews, newspaper and magazine app **JioHome, mobile remote control for Jio set-top box **JioGate, apartment security app **JioCloud, cloud storage services **JioSecurity, security app **JioHealthHub, health companion **JioPOS Lite, Jio recharge commission earning app **JioGameslite, online gaming *JioMoney, digital currency and payments services * JioMart, online grocery delivery services (partnership with

Reliance Retail Reliance Retail is an Indian retail company and a subsidiary of Reliance Industries. Founded in 2006, it is the largest retailer in India in terms of revenue. Its retail outlets offer foods, groceries, apparel, footwear, toys, home improvemen ...

)
JioSign
online grocery delivery services (partnership with

)

Enterprise platforms

* JioAttendance * JioMeet for Business * JioOnline - Online marketing tool * JioGST

Acquisitions and investments

RIL has acquired or invested in several companies, which are now under Jio Platforms:

Valuation

In 2020, the

enterprise value Enterprise value (EV), total enterprise value (TEV), or firm value (FV) is an economic measure reflecting the market value of a business (i.e. as distinct from market price). It is a sum of claims by all claimants: creditors (secured and unsecured) ...

of Jio Platforms was estimated to be . The company was also reported to be more valuable than all other businesses of RIL put together. Its

market capitalization Market capitalization, sometimes referred to as market cap, is the total value of a publicly traded company's outstanding common shares owned by stockholders. Market capitalization is equal to the market price per common share multiplied by ...

put it fourth on the list of largest Indian companies, behind RIL (combined entity),

Tata Consultancy Services Tata Consultancy Services (TCS) is an Indian multinational information technology (IT) services and consulting company with its headquarters in Mumbai. It is a part of the Tata Group and operates in 150 locations across 46 countries. In July ...

and

HDFC Bank HDFC Bank Limited (also known as HDB) is an Indian banking and financial services company headquartered in Mumbai. It is India's largest private sector bank by assets and world's 10th largest bank by market capitalisation . It is the third la ...

References

56.^https://www.business-standard.com/article/companies/mukesh-ambani-buys-38-5-in-extramarks-education-111110800130_1.html

External links

Jio Official Website
{{Reliance Industries Limited Reliance Industries subsidiaries Indian companies established in 2019 Jio 2019 establishments in Maharashtra Companies based in Mumbai Public Investment Fund