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Business deals

Ambani's Reliance Jio secures another US investor after Facebook

Private equity firm Silver Lake to take $750m stake in telecom unit

Reliance on Thursday reported a 39% fall in March quarter profit, hit by a sharp fall in oil prices and lower fuel demand.    © Reuters

NEW DELHI - U.S.-based private equity firm Silver Lake will invest 56.56 billion rupees ($746.6 million) in Jio Platforms, the digital services arm of billionaire Mukesh Ambani's Reliance Industries, as the Indian oil-to-telecom conglomerate steps up efforts to reduce its substantial debt pile.

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