After Facebook and Silver Lake, US-based Vista Equity Partners to invest Rs 11,367 crore in Reliance Jio
New Delhi | Jagran Business Desk: After partnering with Facebook and Silver Lake, Mukesh Ambani’s Reliance Jio on Friday announced that US-based Vista Equity Partners will invest Rs 11,367 crore into Jio platforms for a 2.32 per cent of stake in the company.
This will be the third high profile investment in Reliance Industries Limited (RIL) this year. The investment by the Vista Equity Partners will value Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore.
Vista's investment is at a 12.5 per cent premium over the Facebook deal announced in April. The investment will translate into a 2.32 per cent equity stake on a fully diluted basis, making Vista the largest investor in Jio Platforms behind Reliance Industries and Facebook.
"This investment values Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore," a statement from RIL read. "Jio Platforms has now raised Rs 60,596.37 crore from leading technology investors in less than three weeks," the statement added.
Vista is a leading global investment firm focused on empowering and growing enterprise software, data and technology-enabled companies that are reinventing industries and catalysing change.
"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. They believe in the transformative power of technology to be the key to an even better future for everyone," RIL Chairman Mukesh Ambani said in the statement.
"In Robert and Brian, whose family hails from Gujarat, I found two outstanding global technology leaders who believe in India and the transformative potential of a Digital Indian Society. We are excited to leverage the professional expertise and multi-level support that Vista has been offering to its investments globally for the benefit of Jio," he added.
Vista portfolio companies have a significant presence in India with over 13,000 employees. This is Vista's first sizable investment in India, RIL said.
Facebook had bought 9.99 per cent stake in Jio Platforms - the firm that houses India's youngest but biggest telecom firm, for Rs 43,574 crore in April. That deal was followed by Silver Lake - the world's largest tech investor - buying 1.15 per cent stake in Jio Platforms for Rs 5,665.75 crore.
(With Agencies Inputs)
Posted By: Talib Khan