Silver Lake buys 1.15% stake in Jio Platforms at 12.5% premium over Facebook's 9.99% deal

After the massive investment by US tech giant Facebook, Silver Lake, another leading global tech investor has agreed to invest Rs 5,656 cr in Reliance's subsidiary Jio Platforms. Silver Tech has agreed to invest Rs 5,655.75 crore to buy a 1.15 percent stake in the firm that houses Mukesh Ambani's telecom arm Jio. 

The investment in Jio Platforms comes within days after Facebook invested USD 5.7 billion to buy a 9.99 percent stake in Jio Platforms. The investment is at a premium of 12.5 percent to the Facebook deal. "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 the equity valuation of the Facebook investment announced on April 22, 2020," Reliance said in a statement. 

Read: Here's Jio's New Valuation As Facebook Buys 9.9% Stake In Reliance Subsidiary For $5.7 Bn

Facebook Buys 9.9% Stake in Jio Platforms

Reliance Industries Limited (RIL) on April 22 announced that US tech giant Facebook had invested Rs 43,574 crore to pick up a 9.99% stake in its subsidiary Jio Platforms. The 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 the firm "amongst the top-5 listed companies in India by market capitalization" as per Reliance's statement.

RIL remarked that the investment is the "largest investment for a minority stake by a technology company anywhere in the world and the largest FDI in the technology sector in India" and that it will accelerate "India’s all-round development, fulfilling the needs of Indian people and the Indian economy."

Read: Here's What Mark Zuckerberg Has To Say About Facebook's $5.7 Billion Investment In Jio

(With Agency Inputs)