The deal comes just days after the company announced that another US-based private equity firm, Silver Lake, was investing a sum of Rs 5,655.75 in Jio Platforms.
Reliance Industries on Friday announced that a US-based private equity Vista Equity Partners has invested a sum of Rs 11,367 crore in Jio Platforms.
“I am delighted to welcome Vista, one of the world’s marquee tech investors globally as a valued partner. Like our other partners, Vista also shares with us the same vision of continuing to grow and transform the Indian digital ecosystem for the benefit of all Indians,” Chairman and Managing Director, Reliance Industries Ltd, Mukesh Ambani said in a statement.
The deal comes just days after the company announced that another US-based private equity firm, Silver Lake, was investing a sum of Rs 5,655.75 in Jio Platforms. It is also the second major investment in the Jio Platform by a US-based firm after Facebook, which acquired a 9.99% stake in the company by investing $5.7 billion.
Here are five things you should know about Jio’s new deal:
1. Vista’s investment values Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore. This value is roughly the same as that of Silver Lake.
2. Vista’s investment will translate into a 2.32% equity stake in Jio Platforms on a fully diluted basis.
3. Vista’s investment in Jio Platform makes it the third largest investor behind Reliance Industries and Facebook.
4. Jio Platforms has now raised ₹ 60,596.37 crore from leading technology investors in less than three weeks.
5. Morgan Stanley acted as financial advisor to Reliance Industries and AZB & Partners and Davis Polk & Wardwell acted as legal counsels.
TECH Updated: May 08, 2020 12:00 IST
