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Private equity firm Vista Equity Partners will invest Rs11,367 crore in Jio Platforms for a 2.32% stake. This is Jio Platforms’ third deal after Facebook and Silver Lake’s stock acquisition plans in the past two weeks.
“This investment values Jio platforms at a capital value of ₹4.91 lakh crore and a business value of ₹5.16 lakh crore, “Reliance Industries said in a statement on Friday.
“We believe in the potential of the Digital Society that Jio is building for India. Mukesh’s vision as a world pioneer, together with Jio’s world-class leadership team, has built a platform to scale and advance the data revolution It started. We are delighted to join Jio Platforms to deliver exponential growth in connectivity across India, providing modern software for consumers, small businesses and enterprises to drive the future of one of the world’s fastest growing digital economies. ” Commenting on the investment, Robert F. Smith, Founder, President and CEO of Vista, said.
With Vista’s equity investment, Jio Platforms is set up for a combined profit ₹Rs 60,596 million for the Reliance Industries unit, which mainly comprises its telecommunications business under Reliance Jio Infocomm, which is the largest in the country with more than 388 million subscribers.
Vista will become the largest investor in Jio platforms after RIL and Facebook. Facebook said on April 22 that it would invest $ 5.7 billion in Jio Platforms for a 9.99% stake. Then on May 4, US private equity firm Silver Lake said it will invest ₹5,655.75 rupees ($ 747 million) in Jio Platforms with a 1.15% stake.
Vista has more than $ 57 billion in cumulative capital commitments and its global network of companies collectively represents the fifth largest business software company in the world. Currently, Vista’s portfolio companies have a significant presence in India with more than 13,000 employees.
Silver Lake Partners, the world’s largest technology investor, agreed Monday to invest ₹Rs 5,655.75 million to buy a 1.15 percent stake in billionaire Mukesh Ambani’s digital unit that houses India’s youngest but largest telecommunications firm.
Silver Lake’s investment in Jio Platforms had a 12.5 percent premium to Facebook’s $ 5.7 billion ( ₹Rs 43,574 million) for a 9.99 per cent stake in the company.
Facebook had bought a 9.99 percent stake in Jio Platforms for $ 5.7 billion ( ₹Rs 43,574 million) at a business value of ₹4.62 lakh crore.
Morgan Stanley acted as financial advisor to Reliance Industries to complete the deal.
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