Manoj Modi: Man Who Made Jio Richer By 1 Lakh Crore In Just Six Weeks

Jio Platforms is in the news after major investments from Facebook, and other US and UAE based investors. And if you thought it was just Mukesh Ambani calling the shots, you won't be completely right.

One man has been behind all this success that Jio has managed to capture in the last few weeks, and no it isn¡¯t anyone from the extended Ambani family either. It's a guy called Manoj Modi.

Twitter: @JohnTChambers

According to reports by TOI, Manoj Modi -- a quiet and invisible entity that rarely comes in the limelight, but he¡¯s often regarded as the ¡®right hand¡¯ of the tycoon, Mukesh Ambani -- has been instrumental in masterminding the flurry of investments that have happened in Jio over the last six weeks.

By designation, Manoj Modi is a director at Reliance Retail Ltd. However, he was the one who played a huge role in Facebooks¡¯s stake of $5.7 billion in Jio which to this date stands to be the largest FDI minority stake by a tech company ever.

Facebook¡¯s investments attracted more investors from the silicon valley and allowing them to invest $13 billion in total while putting Jio on the global radar.

Manoj Modi with three generations of Ambani

Manoj Modi has been a part of Reliance since the 1980s -- a time when Dhirubhai Ambani was starting his oil and petroleum business. They both had studied together at the University of Department of Chemical Technology in Mumbai and had been friends since then.

Since then, he¡¯s worked with Dhirubhai, his son Mukesh as well as Nita Ambani and now their children Isha and Akash Ambani -- the two who have worked hard to get the Facebook deal to go through.

AFP

Modi is a hard man to reach

Manoj Modi is known to be very private in his functioning and very rarely interacts with the media.

Vani Kola, managing director of venture capital firm, Kalaari Capital Partners who once asked Modi to make an appearance to the public through a video call explained, ¡°It¡¯s not a company that advertises its organizational structure but the industry knows that Ambani and Modi are a strongly-bonded team -- and together drive deal negotiation and relentless execution to the last level of detail.¡±

Modi calling the shots

Startup founders in conversation with TOI have expressed that nothing big is ever passed without Manoj Modi's nod and he signals a sort of ¡®stamp of approval¡¯.

GR Gopinath, founder of airliner Air Deccan said, ¡°He derives his power in the organization not just because of his loyalty, but because of his very astute, smart and able negotiator skills for Reliance Industries.¡±

He added, ¡°Significantly, though, without formal education from Ivy League universities, he has a very sharp mind and a rare insight and native genius to grasp modern technology in the Indian context.¡±

with inputs from TOI