This is Jio's third major announcement in three weeks after it
previously sold stakes to Facebook and Silver Lake.
Reliance
Jio Platforms, part of Mukesh Ambani-controlled Reliance Industries group,
has sold a 2.32 per cent stake to US-based private equity firm Vista Equity on
a fully diluted basis for Rs 11,637 crore. This is a third major equity deal
for Jio Platforms in three weeks — it previously sold a 9.9 per cent stake to
Facebook for Rs 43,534 crore, and then 1.5 per cent to Silver Lake for Rs 5,655
crore.
The Vista
Equity investment has valued Jio Platforms at an equity value of Rs 4.91
trillion and an enterprise value of Rs 5.16 trillion. Vista’s investment will
make Vista it “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.
Vista is a global
investment firm focused on empowering and growing enterprise software, data and
technology-enabled companies. It has more than $57 billion in cumulative
capital commitments and its global network of companies collectively represents
the fifth-largest enterprise software company in the world.
Commenting on the
deal, Reliance Industries Chairman and Managing Director Mukesh Ambani said: “I
am delighted to welcome Vista, one of the world’s marquee tech investors 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.”
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