Sreesanth Wants to Play for India in the 2019 World Cup

New Delhi, Jun 18: Reliance Industries Ltd on Thursday said it has sold a 2.32 per cent stake in its digital unit to Saudi Arabia's Public Investment Fund (PIF) for Rs 11,367 crore, taking the cumulative fund raising to about Rs 1.16 lakh crore in two months.

Starting with Facebook Inc on April 22, Reliance has sold almost 25 per cent of equity in Jio Platforms - the maximum reports suggest the company intends to dilute to financial investors.

The investment by Saudi sovereign wealth fund is "at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore", the company said in a statement.

With this investment, Jio Platforms has raised Rs 115,693.95 crore from some of the leading global investment powerhouses at a time when the world is deeply impacted by the coronavirus pandemic, resulting in a recession kind of environment for the global economy.

"With the addition of PIF's investment, Jio Platforms has established partnerships with a marquee set of global financial investors, who will contribute to establishing the Digital Society vision for India," the statement said.

Jio Platforms houses India's biggest telecom firm by subscribers, Reliance Jio. With more than 388 million users, Jio has forced out several rivals and driven consolidation in the sector since entering the market in 2016 with free voice services and cut-price data.

Over the past two months, billionaire Mukesh Ambani's oil-to-telecom conglomerate has announced the sale of about $14 billion of assets, completed a Rs 53,124 crore rights issue and slowed the run rate of new investment by a quarter.

These will help Reliance meet its target of paying off Rs 1.61 lakh crore of net debt by the end of the year.
This is PIF's largest investment into the Indian economy to date.

Ambani, chairman and managing director of Reliance Industries, said, "We at Reliance have enjoyed a long and fruitful relationship with the Kingdom of Saudi Arabia for many decades. From oil economy, this relationship is now moving to strengthen India's New oil (data-driven) economy, as is evident from PIF's investment into Jio Platforms."

Yasir Al-Rumayyan, governor of PIF, commented: "We are delighted to be investing in an innovative business which is at the forefront of the transformation of the technology sector in India. We believe that the potential of the Indian digital economy is very exciting and that Jio Platforms provides us with an excellent opportunity to gain access to that growth."

"This investment will also enable us to generate significant long-term commercial returns for the benefit of Saudi Arabia's economy and our country's citizens, in line with our mandate to safeguard and grow the national wealth of the Kingdom," he said.

The transaction is subject to Indian regulatory and other customary approvals.

Morgan Stanley acted as financial advisor to Reliance Industries and AZB & Partners and Davis Polk & Wardwell acted as legal counsels.

Prior to this deal, Reliance had sold 22.38 per cent of Jio Platforms to investors including Facebook Inc, securing Rs 104,326.95 crore in eight weeks.

Facebook kicked off the party, investing Rs 43,573.62 crore for a 9.99 per cent stake on April 22. This was closely followed by a further Rs 60,753.33 crore in investment.

Silver Lake - the world's largest tech investor - bought a 1.15 per cent stake in Jio Platforms for Rs 5,665.75 crore on May 4. It invested another Rs 4,546.80 crore for additional 0.93 per cent stake on June 5, taking its total holding to 2.08 per cent
Private equity KKR and Vista Equity Partners have taken 2.32 per cent stake each for Rs 11,367 crore apiece. KKR invested in Jio Platforms on May 22 while Vista invested on May 8.

Abu Dhabi sovereign wealth fund Mubadala Investment Co picked up 1.85 per cent in Jio Platforms for Rs 9,093.60 crore on June 5. Abu Dhabi Investment Authority on June 7 invested Rs 5,683.50 crore for a 1.16 per cent stake in Jio Platforms.

On May 17, global equity firm General Atlantic picked up 1.34 per cent stake in Jio Platforms for Rs 6,598.38 crore.

Global investment firm TPG on June 13 picked up 0.93 per cent for Rs 4,546.80 crore while L Catterton bought 0.39 per cent for Rs 1,894.50 crore.

Hobart, Jan 18: In a dream start to her second innings after a two-year break, Sania Mirza lifted the WTA Hobart International trophy with partner Nadiia Kichenok after edging out Shaui Peng and Shuai Zhang in the final, here on Saturday.

The unseeded Indo-Ukrainian pair pipped the second seed Chinese team 6-4, 6-4 in one hour 21 minutes.

Playing her first tournament after giving birth to son Izhaan, the 33-year-old Sania has begun well in the Olympic year as she warmed up for the Australian Open in style.

It is Sania's 42nd WTA doubles title and first since Brisbane International trophy in 2007 with American partner Bethanie Mattek-Sands.

Sania did not compete on the WTA circuit in the entire 2018 and 2019 seasons to start a family with Pakistani cricketer husband Shoaib Malik.

Sania and Nadiia began by breaking the Chinese players in the very first game of the match but only to drop serve in the next.

The two pairs played close games towards the end and at 4-4, 40-all, Sania and Nadiia got the crucial break, earning the opportunity to serve out the set.

There was no twist in 10th game with Sania and Nadiia comfortably pocketing the first set.

The second set could not have started better for them as they broke the Chinese rivals to take early lead and consolidated the break with an easy hold.

The game of the Chinese was falling apart as they dropped serve again in the third but broke back immediately to repair some damage.

Sania and Nadiia were now feeling the heat at 0-30 in the sixth game but Peng and Zhang let them hold serve for a 4-2 lead. The Chinese though kept fighting and made it 4-4 with another break in the eighth game.

The Indo-Ukraine team raised its game when it mattered as it broke Peng and Zhang for one final time in the ninth and served out the match in the next game.

Sania and Nadiia split USD 13580 as prize money and eared 280 ranking points each for their winning effort.

New Delhi, Jan 28: Stepping up attack on Chief Minister Arvind Kejriwal, Union Home Minister Amit Shah on Monday dared the AAP chief to visit the anti-CAA protest site at Shaheen Bagh so that the people of Delhi can decide whom to vote for in the assembly election.

Addressing a rally in Rithala in northwest Delhi, Shah said Kejriwal and Congress leader Rahul Gandhi were against the construction of Ram temple, the scrapping of provisions of Article 370 and not bothered about the country's image and soldiers.

The opposition fears that they will upset their vote bank, he said and asked, "Are you their vote bank? Where is their vote bank?" To this, the crowd replied, "Shaheen Bagh".

The BJP leader claimed that the Delhi Police has booked Sharjeel Imam, a JNU student, on the charge of sedition for his comment of "trying to cut chicken's neck" and breaking the North East from the rest of the country.

"I want to ask Kejriwal whether he is in favour of apprehending Sharjeel Imam or not? Whether you are with the people of Shaheen Bagh or not, please tell the people of Delhi," Shah said.

Imam was one of the initial organisers of the Shaheen Bagh protest.

Hitting back at the BJP, Kejriwal alleged that the saffron party does not want to open the Shaheen Bagh stretch of the Kalindi Kunj road as it is doing "dirty politics" over it.

He said law and order in the national capital lies entirely with the Centre and "if they are saying that they need permission from me, I am giving them permission, open the road in one hour".

"I can give it to you in writing, the BJP does not want to open the route in Shaheen Bagh. The Shaheen Bagh route will remain closed till February 8 (election day) and it will open February 9," Kejriwal told reporters.

Calling Kejriwal a member of the 'tukde tukde' gang, a term used by the BJP to attack groups it accuses of working to promote violent leftists and separatism, Shah sought to return fire and said the protesters of Shaheen Bagh will not listen to his party.

"They will not listen to us. You people (AAP leaders) say that you are with Shaheen Bagh, if you have the guts then go and sit with them and let Delhi decide," Shah said.

At another election rally in Janakpuri, Shah accused Gandhi and Kejriwal of doing politics of "vote bank" on national issues and "supporting" the protest at Shaheen Bagh while instigating riots and vandalism.

"The Modi government will not spare anti-national elements," he warned.

Upon mentioning the recent Supreme Court judgment on Ayodhya, Shah was greeted with cheers and chants of 'Jai Shri Ram'.

The home minister further said that this was the first Republic Day in Jammu and Kashmir after the abrogation of Article 370 and the tricolour was unfurled there with enthusiasm and without any bloodshed.

The former BJP president also attacked the Kejriwal government for not fulfilling promises like regularising temporary employees, providing free wifi, opening new schools and colleges, constructing roads and cleaning the Yamuna.

"Kejriwal government is in power since five years but till today there is no clean drinking water in the city. There are no good schools or hospitals as claimed by him. When I visited a Delhi government school, I saw that it was operating from a building that was illegally built and falls in the list of those that to be erased," Shah said.

He claimed that Kejriwal came to power with the help of Anna Hazare's anti-corruption movement but "completely changed" later on.

"He had said that he would not take any government accommodation or vehicles and other facilities but after becoming chief minister he availed all these facilities," Shah said.

He also slammed the Delhi government for not sanctioning the prosecution of former JNU students' union leader Kanhaiya Kumar in a sedition case.

Shah said if the national capital comes under the leadership of Modi, it will become the best city in the world.

The BJP has a vision for development of Delhi and cleaning the Yamuna river will be on top of our agenda, he said.

"Yamuna river is still dirty as against his (Kejriwal) claims of cleaning the river... Modi and Yogi (Adityanath) have cleaned Ganga river as promised. We will make Yamuna Riverfront like Sabarmati riverfront in Ahmedabad," Shah said.

However, a sizeable majority of those present at the public meeting was not convinced by the claims and promises made by Shah.

Bablu Yadav, a migrant and resident of Janakpuri said, "Shah and Modi can only talk but Kejriwal knows how to perform. They keep raking up issues like Ayodhya, Kashmir, Muslims and Pakistan... what are they waiting for if they want to attack Pakistan? They are in power, so why don't they destroy it instead of telling us how wrong Pakistan is?"

Another local Deepak Shrivastava who attended the Janakpuri meeting said, "All we hear from Modi and Shah are pep talks. I am an engineer from BHU and searching for a job. This government has failed the country's youth."

"Now, they have a problem with protests in universities but it is the same youth who brought them to power in 2014. The same youth will ensure their defeat," he added.

The public meeting in Janakpuri witnessed two incidents of pick-pocketing as the thieves managed to steal Rs 37,500 in cash and a mobile phone, police said.