New Delhi | Jagran Business Desk: Reliance Industries Ltd on Monday said that private equity firm Silver Lake will invest Rs 5,655.75 cr to buy 1.15 per cent stake in Jio Platforms, giving it a valuation of Rs 4.90 lakh crore.

This comes days after Facebook announced an investment of USD 5.7 billion (Rs 43,574 crore) for acquiring a minority stake in Jio Platforms Ltd, with an eye on expanding presence in its largest market in terms of subscriber base.

Silver Lake will buy stake in Reliance's digital arm at 12.5 per cent premium to Facebook investment in Jio, a subsidy of Indian conglomerate Reliance Industries Ltd.  

"This investment values Jio Platforms at an equity value of Rs 4.90 lakh crore and an enterprise value of Rs 5.15 lakh crore and represents a 12.5 per cent premium to the equity valuation of the Facebook investment announced on April 22, 2020," Reliance said in a statement.

Posted By: Abhinav Gupta