Lawstreet Journal

Vista becomes the biggest shareholder in Jio Platforms after RIL and Facebook.

Lawstreet Journal 9 May 2020 4:05am

Image courtesy: Lawstreet Journal Business Vista becomes the biggest shareholder in Jio Platforms after RIL and Facebook.

Renowned private equity firm - Vista Equity Partners will invest Rs.11,367 crore in Jio Platforms for a 2.32% stake. This is Jio Platforms' third deal after Facebook and Silver Lake's share acquisition plans in the course of the last fourteen days. 

“This investment values Jio Platforms at an equity value of ₹4.91 lakh crore and an enterprise value of ₹5.16 lakh crore," Reliance Industries said in an announcement on 8th May 2020.

"We believe in the potential of the Digital Society that Jio is building for India. Mukesh’s vision as a global pioneer, alongside Jio’s world-class leadership team, have built a platform to scale and advance the data revolution it started. We are thrilled to join Jio Platforms to deliver exponential growth in connectivity across India, providing modern consumer, small business and enterprises software to fuel the future of one of the world’s fastest-growing digital economies," remarking on the investment, Robert F. Smith, Founder, Chairman and CEO of Vista, said.

With the investment form Vista equity, Jio Platforms is set to net a consolidated ₹60,596 crores for the unit of Reliance Industries which involves its telecom business under Reliance Jio Infocomm Limited.

Facebook on April 22 stated that it would put $5.7 billion in Jio Platforms for a 9.99% stake. Soon thereafter, on May 4, Silver Lake said that it would invest ₹5,655.75 crores to purchase a 1.15 percent stake in the Mukesh Ambani-led enterprise.

Vista has more than $57 billion in aggregate capital commitments and its worldwide organizations make for the fifth largest enterprise… Continue Reading...

Tagged: Reliance Industries Limited  
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