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A woman rides her scooter in previous commercials for Reliance Industries’ Jio telecommunications unit in Ahmedabad. (REUTERS)
This is the third high profile investment in Reliance Jio in so many weeks.
- News18.com
- Last update: May 8, 2020 7:57 AM IST
Reliance Jio, the telecommunications unit of Reliance Industries Ltd (RIL), has sold a 2.3 percent stake to Vista Equity Partners, a US-based private equity firm. USA
Vista’s investment has a 12.5 percent premium over the Facebook deal announced in April. The agreement puts the capital value of Jio Platforms at 4.91 lakh crore from Rs and the value of the company at 5.16 lakh crore from Rs.
This is the third high-profile investment in Reliance Jio in so many weeks, after Facebook acquired a minority stake of 9.9% for Rs 43.534 crore and Silver Lake invested 5.555 crore for a 1.5% stake. .
Silver Lake Partners’ investment in Jio announced earlier this week also had a similar premium to the Facebook deal.
Jio Platforms has now raised Rs 60,596.37 million from top technology investors in less than three weeks as the company seeks to reduce its debt.
Vista has a history of investing in state-of-the-art technology startups, and each of its investments has been profitable in its 10-year history. This is Vista’s first major investment in India.
This reaffirms Jio as a strong technology company focused on one of the largest and most exciting markets in the world and emphasizes the quality of management, RIL said.
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