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Qatar Investment Authority (QIA) Can Take $1.5 Bn Stake In Jio Fiber

Pritish raj by Pritish raj
July 29, 2020
in News, Tech
2 min read
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QIA Jio Fiber- Next Big Brand

QIA Jio Fiber- Next Big Brand

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  • Qatar’s QIA (Qatar Investment Authority) sovereign wealth fund could take up a $1.5 billion stake in Reliance Jio Fiber.

Mukesh Ambani is now turning to the rest of his tech companies to raise even more money after raising over $20bn for Jio Platforms in a record fundraising spree that spanned through the COVID-19 high. A recent Livemint study indicates that Qatar’s QIA (Qatar Investment Authority) sovereign wealth fund could take up a $1.5 billion stake in Reliance Jio Fiber. As the name suggests, JioFiber is responsible for all of Reliance Jio’s broadband internet fiber cable network in India.

All sides are on an “advanced stage” of negotiations, the study says. QIA will invest the aforementioned $1.5 billion in an Infrastructure Investment Trust (InvIT) that holds the fiber-optic assets of the company. Needless to say, JioFiber ‘s investment would be directly tied to those in Jio Platforms. Although Jio Platforms is all about wireless connectivity and digital goods, JioFiber will serve as the cavalry ground support that will create a broad-based cabled fiber network across India.

Reliance did a strategic rejig of its telecom business units in March last year to plan for individual fundraising in each of them. Reliance Jio Infocomm, a Telecom company, demerged its fiber and tower companies into Jio Digital Fibre Pvt. Jio Infratel Pvt Ltd, and Reliance. Ltd. Ltd. In both demerged companies Jio Infocomm is also a partner.

JioFiber already has a presence in a significant number of cities across India and has done praiseworthy work in entering Tier II / III high-speed internet cities. The company now boasts 700,000 km of lines in India. Eventually, the goal is to take it up to 1.1 Million km. JioFiber offers plans across the aisle for all sorts of customers, with speeds topping up to as high as 1 Gbps.

Amazon Also Interested In Reliance Retail

Amazon will join its global competitors Google and Facebook in funding one of Indian Billionaire Mukesh Ambani‘s companies.

The confirmed talks between Amazon and Reliance Retail come days after Ambani, who is the richest man in India, said many companies had expressed interest in supporting the retail chain. Ambani’s other company, Reliance Jio Platforms, has raised more than $20 billion since April this year by selling 33 percent stake to over a dozen investors including Facebook, Google, Silver Lake, and General Atlantic.

Reliance Is Close To Take Stake In Future Retail

Reliance Industries Ltd (RIL) is close to buying retail assets from Future Group for around 24,000-27,000 crore to boost its role in India’s retail market, according to two people who are familiar with the specifics of the deal.

Five listed companies, including Future Retail Ltd, Future Customer, Future Lifestyle Fashions, Future Supply Chain and Future Distribution Networks, will be combined with Future Enterprises Ltd (FEL) before the assets are sold, the people said on condition of anonymity.

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Pritish raj

Pritish raj

Pritish Raj is a content writer at Next Big Brand. Hailing from the diversified state of Bihar, he is an engineer by education who chooses the way of poetry, photography, and writing to kick off his career. Highly enthusiastic about brands and startups, he aims to be a travel content creator.

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