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PE firm Vista to invest over Rs 11,300 crore in Reliance-owned Jio Platforms
Vadodara News Network May 08, 2020
RIL-owned Jio Platforms has now raised Rs 60,596.37 crore from leading technology investors in less than three weeks.
Vista Equity is buying 2.32 per cent equity stake in Jio Platforms
Vista Equity will invest Rs 11,367 crore in Jio Platforms
Jio Platforms has now raised Rs 60,596.37 crore from leading technology investors in less than three weeks
A US-based private equity firm has become the latest investor in Reliance’s digital arm Jio Platforms.
Vista Equity Partners will invest Rs 11,367 crore in Jio Platforms, which is a wholly-owned subsidiary of Reliance Industries Limited (RIL), announced Reliance in a press release.
The investment values Reliance digital business wing, Jio Platforms, at Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore.
Vista is buying 2.32 per cent equity stake in Jio Platforms on a fully diluted basis, making it the third-largest investor in Jio Platforms.
Commenting on the fresh transaction, RIL Chairman Mukesh Ambani said, “I am delighted to welcome Vista, one of the world’s marquee tech investors globally as a valued partner.”
With the fresh investment, Jio Platforms has now raised Rs 60,596.37 crore from leading technology investors in less than three weeks.
Facebook was the first company that began the chain of investments. It invested over Rs 43,000 crore in Jio Platforms for 9.99 per cent stake.
Private equity giant Silver Lake followed with a Rs 5,650 crore investment in Jio Platforms. And now, Vista has invested over 11,300 crore in Jio Platforms.
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