A vendor weighs vegetable next to an advertisement of Paytm, a digital payments firm, hanging amidst his vegetables at a roadside market in Mumbai, India. Reliance Industries Ltd started testing its online shopping portal three days after Facebook Inc said it will invest US$5.7bil in digital assets controlled by billionaire Mukesh Ambani. - Reuters
NEW DELHI: India's Reliance Industries Ltd on Friday announced a $1.5 billion stake sale in its digital unit Jio Platforms, a third deal in little over two weeks that will inject a combined $8 billion in the telecoms-to-energy group to help it pare debt.
Private equity firm Vista Equity Partners is buying a 2.32% stake in Jio Platforms, the unit that houses Reliance's telecoms venture Jio Infocomm, for 113.67 billion rupees ($1.5 billion), Mumbai-headquartered Reliance said in a statement.
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