From Samsung,to Foxconn& #Google's $10bn fund--India under @narendramodi is gaining traction,even as China's expansionism,is isolating it
From producing 8000 #PPE kits in March,to over 4.5 lakh kits daily now,#Modinomics is blending global&local
My Oped
dnaindia.com/blogs/column-s…
#Google's decision to invest 33737 Cr for 7.7% stake in #Jio,on back of #Facebook's investment of 43574Cr in April,is great news
While there's thin line between FPI &FDI,since in both cases,10% ownership threshold has not been crossed by foreign company,it should qualify as FPI
Since both #Facebook and #Google do not own 10% or more individually, they do not get voting rights or any say in management of RIL
While Reliance Jio Infocomm Ltd (RJIL),is a separate Co,it is part of RIL
Deal has been stuck with #RIL,not RJIL,which again makes it #FPI,not FDI
Had deal been struck with RJIL,it could have even been FDI,as FDI is allowed in unlisted companies but FPI only in listed entities
However,if say tomr,#RJIL, as in #JioPlatforms get listed,#FPI investment of Google& Facebook will get converted to #FDI,but without voting rights
To summarize,FPI investments need strong KYC documentation, Sebi approval&investment by #Google& #Facebook in #JioPlatforms,currently FPI in nature,bode well,for stakeholders
Technically FPI,but in spirit FDI,as these investments seem long term,which is even better
#RelianceAGM
Share this Scrolly Tale with your friends.
A Scrolly Tale is a new way to read Twitter threads with a more visually immersive experience.
Discover more beautiful Scrolly Tales like this.