Published 16:39 IST, May 11th 2020
Vista Equity Partners invests Rs 11,367 cr in Jio Platforms in third quickfire deal
Private equity firm Vista Equity Partners, a US-based private firm has purchased a 2.32% stake in Jio Platforms. This is the third such major investment
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Private equity firm Vista Equity Partners, a US-based private firm has purchased a 2.32% stake in Jio Platforms. This is third such major investment in one of India's fastest growing telecommunication companies in just a few weeks and purchase will be worth Rs Rs 11,367 crores.
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Jio sells ar stake
Mukesh Ambani, Chairman and Managing Director, Reliance Industries Ltd said, "Like our or partners, Vista also shares with us same vision of continuing to grow and transform Indian digital ecosystem for benefit of all Indians. y believe in transformative power of techlogy to be key to an even better future for everyone. In Robert and Brian, whose family hails from Gujarat, I found two outstanding global techlogy leaders who believe in India and transformative potential of a digital Indian society. We are excited to lever professional expertise and multi-level support that Vista has been offering to its investments globally for benefit of Jio.”
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On May 4, Jio anunced that US techlogy giant Silver Lake had agreed to invest Rs 5,656 cr in Jio. "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 percent premium to equity valuation of Facebook investment anunced on April 22, 2020," Reliance had said in a statement n.
Facebook's big investment
Reliance Industries Limited (RIL) on April 22 anunced that US tech giant Facebook had invested Rs 43,574 crore to pick up a 9.99% stake in its subsidiary Jio Platforms. deal - equivalent to $5.7 Billion - values Jio Platforms at Rs 46.24 lakh crore or $65.95 Billion (at Rs 70 per Dollar), making firm "amongst top-5 listed companies in India by market capitalization" as per Reliance's statement.
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RIL remarked that investment is "largest investment for a mirity stake by a techlogy company anywhere in world and largest FDI in techlogy sector in India" and that it will accelerate "India’s all-round development, fulfilling needs of Indian people and Indian ecomy."
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10:29 IST, May 8th 2020