Home Companies Vista Equity Partners picks up 2.32 pc stake in Jio Platforms for...

Vista Equity Partners picks up 2.32 pc stake in Jio Platforms for Rs 11,367 cr: Statement

Vista’s investment in Jio Platforms Limited will translate into a 2.32 per cent stake, which will make Vista the largest investor in Jio Platforms after Reliance Industries and Facebook.

Vista Equity Partners picked up 2.32 per cent stake in Jio Platforms Limited, part of Mukesh Ambani-led Reliance Industries, for Rs 11,367 crore, as per a statement by Reliance Industries Limited. After this investment, Jio platforms will have an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore. Vista’s investment in Jio Platforms Limited will translate into a 2.32 per cent stake, which will make Vista the largest investor in Jio Platforms after Reliance Industries and Facebook.

Facebook had bought 9.99 per cent stake in Jio Platforms – the firm that houses India’s youngest but biggest telecom firm, for Rs 43,574 crore. That deal was followed by Silver Lake – the world’s largest tech investor – buying 1.15 per cent stake in Jio Platforms for Rs 5,665.75 crore.

“Jio Platforms has now raised Rs 60,596.37 crore from leading technology investors in less than three weeks,” the statement said. Jio Platforms, a wholly-owned subsidiary of Reliance Industries, is a next-generation tech company that brings together Jio’s leading digital apps, digital ecosystems and high speed connectivity platform under one umbrella.

Reliance Jio Infocomm Limited, which provides connectivity platform to over 388 million subscribers, will continue to be a wholly-owned subsidiary of Jio Platforms. “I am delighted to welcome Vista, one of the world’s marquee tech investors globally as a valued partner. Like our other partners, Vista also shares with us the same vision of continuing to grow and transform the Indian digital ecosystem for the benefit of all Indians,” RIL Chairman and Managing Director Mukesh Ambani said.

Ambani further said “we are excited to leverage the professional expertise and multi-level support that Vista has been offering to its investments globally for the benefit of Jio.”

Vista is a global investment firm which focuses on empowering and growing enterprise software, data and technology enabled companies that are reinventing industries and catalyzing change. Currently, Vista portfolio companies have a significant presence in India with over 13,000 employees.

 

Source

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Must Read

RBI gold reserves up 40.4 tonnes in 2019-20, more than half of total holdings held overseas

The RBI’s total gold reserves were 612.56 tonnes in the preceding fiscal ended March 2019. With the addition of more stocks, the value of...

Currency with public continues to swell in line with coronavirus lockdown extension

The rise in currency with the public comes despite appeals by the government and the RBI to use digital payment tools amidst the coronavirus...

ICICI Bank posts 26% rise in Q4 net, sets aside Rs 2,725 cr for COVID-19-related provisions

Gross non-performing assets of the bank fell to 5.53 per cent of advances (Rs 41,409 crore) in Q4 of FY20 from 6.70 per cent...

AIIB clears $500-mn loan to support India’s fight against COVID-19

The project will be implemented by the National Health Mission (NHM), the National Centre for Disease Control (NCDC) and the Indian Council of Medical...

SBI slashes MCLR by 15 bps across all tenors

On March 27, the RBI, in its first COVID package, had slashed the repo rate by 75 bps to 4.40 per cent and cash...
Need Help? Chat with us