Another US Firm invests in Reliance
Private equity firm Vista Equity Partners will invest Rs 11,367 crore in Reliance Jio platform with a 2.32 per cent stake. This is the Jio platform’s third deal after the share acquisitions of Facebook and Silver Lake in the last two weeks. In a statement released on Friday, Reliance said that the investment has been made with the Jio platform with equity value of 4.91 lakh crore and enterprise value of 5.16 lakh crore.
About this, Mukesh Ambani, Chairman and Managing Director of Reliance Industries said, ‘I happily welcome Vista. It is a valued associate and one of the global technology investors. Like our other investors, Vista also shares the vision to continuously enhance and transform our Indian digital infrastructure that will benefit all Indians. ‘
Vista chairman and CEO Robert F. Smith said that we believe in the potential of the digital society that Jio is building for India. Mukesh’s vision as a global pioneer, along with Jio’s world-class leadership team, has made it the platform to advance the data revolution. We are thrilled to work closely with Jio Platform to enhance connectivity across India. He said that it is one of the fastest growing digital economies in the world providing modern consumers, small businesses and enterprises.
Private equity company Vista Equity Partners of America is a global investment firm. Which focuses on companies enabling enterprise software, data and technology. Vista has been invested at a 12.5 per cent premium to the Facebook deal announced by Reliance in April. Vista’s investment in Jio is 2.32 percent. With this, it has become the largest company to invest in Jio, leaving behind Facebook . Vista already has a presence in India. It’s invested companies employ about 13,000 people.
Jio Platforms, a wholly owned subsidiary of Reliance Industries, is a next generation digital technology company. This includes the company’s Jio App, digital ecology and telecommunications and high-speed Internet service. The company’s telecom service has about 388 million subscribers across the country.
This is the third largest investment in Reliance Jio. Earlier, Facebook had invested 9.65 per cent stake in Jio for Rs 43,534 crore and Silver Lake had bought 5655 crore to buy 1.55 per cent stake. Within three weeks, Jio platform has raised Rs 60,596.37 crore from technology investors.
