Vista to invest in Reliance Jio
Reliance Jio bags the third deal after Facebook and Silver Lake. This time, Vista Equity Partners will be making an investment of around Rs 11,367 crore into Reliance Jio as announced by Reliance Industries and Jio Platforms Limited.
Post this investment, the equity value of Jio investment will be of Rs 4.91 lakh crore with an enterprise value of Rs 5.16 lakh crore. With Vista’s investment, it will be entitled to 2.32 per cent equity stake in Jio Platforms on a fully-diluted basis. This will further make Vista, the third-largest investor in Jio Platforms after Reliance Industries and Facebook. In a time period of less than three weeks, Jio Platforms has raised Rs 60,596.37 crore from leading technology investors, which is considered commendable.
Jio Platforms which is a wholly-owned subsidiary of Reliance Industries Limited is considered to be the next-generation technology company, building a digital society for India by bringing together Jio’s leading digital apps, digital ecosystems and high speed connectivity platform under one umbrella.
Vista is a leading global investment firm focussed on empowering and growing enterprise software, data and technology-enabled companies that are reinventing industries and catalysing change as well as believing in the transformative power of technology is the key to an even better future.
Reliance Industries Limited (RIL) is one of India’s largest private sector company with activities spanning across hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and digital services.
On Friday, the stock of RIL closed at Rs 1,561.80, up by 3.62 per cent or Rs 54.55 per share. The 52-week high is Rs 1,617.80 and 52-week low is Rs 875.70 on BSE.