Vista to invest Rs 11,367 crore in Jio Platforms for 2.32% equity stake
With this investment, Jio Platforms now has an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore
Reliance Industries Limited and Jio Platforms Limited announced on Friday that Vista Equity Partners will be investing Rs 11,367 crore into Jio Platforms.
This investment values Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore.
Vista’s investment will translate into a 2.32% equity stake in Jio Platforms on a fully diluted basis, making Vista the largest investor in Jio Platforms behind Reliance Industries and Facebook.
Jio Platforms has now raised Rs 60,596.37 crore from leading technology investors in less than three weeks.
Commenting on the transaction with Vista, Mukesh Ambani, Chairman and Managing Director, Reliance Industries Ltd, said: “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. They believe in the transformative power of technology to be the key to an even better future for everyone. In Robert and Brian, whose family hails from Gujarat, I found two outstanding global technology leaders who believe in India and the transformative potential of a Digital Indian Society. 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.”
Regarding the investment, Robert F. Smith, Founder, Chairman and CEO of Vista, said, “We believe in the potential of the Digital Society that Jio is building for India. Mukesh’s vision as a global pioneer, alongside Jio’s world-class leadership team, have built a platform to scale and advance the data revolution it started. We are thrilled to join Jio Platforms to deliver exponential growth in connectivity across India, providing modern consumer, small business and enterprise software to fuel the future of one of the world’s fastest growing digital economies.”
The transaction is subject to regulatory and other customary approvals.For more updates, be socially connected with us on
WhatsApp, Instagram, LinkedIn, Twitter, Facebook & Youtube