Reliance

WhatsApp Pay has been trying to get approval from Indian authorities for two years.

Jio Platforms raised USD 1.5 billion from Public Investment Fund (PIF), the sovereign wealth fund of Saudi Arabia, for a 2.32% stake.

With its 388-million-strong subscriber network, Jio has the potential to create multiple revenue streams, the reason why investors are flocking to it.

Jio Platforms has divested a 22.3% stake for over USD 13.7 billion, from nine high profile investors.

This is Jio Platforms’ eighth fund raise in seven weeks. It has raised a total of USD 12.95 billion from leading global investors.

Reliance has raised a total of USD 11.63 billion by selling an estimated 18.97% stake in Jio Platforms within six weeks.

Facebook and Reliance have filed an application to CCI for an approval.

Reliance also got into the online grocery market which is expected to reach USD 3.6 billion by 2024.