Lately, SoftBank has been investing in technology-driven scalable businesses and, according to sources, Jio appears to be suitable for SoftBank’s new spend. This is as per a report in the Economic Times.
The $100 billion fund led by bankers, aims to invest in fast-growing scalable tech companies globally. In India, it has already invested in Paytm, OYO Rooms, PolicyBazaar and Delhivery.
Jio launched commercial pure play fourth-generation or 4G technology based telecom services in September 2016, and within a span of two years have become India’s third largest telco with highest monthly subscriber additions.
By investing in Jio, SoftBank, according to the report would get exposure to telecom, technology and e-commerce.
Reliance Industries, Jio’s parent company is also expected to launch its e-commerce venture soon.
Ambani’s telecom unit has recently moved fibre and tower assets to InvIT structure with an aim to reduce debt.