US-based Vista Equity Partners Invests Rs 11,367 Cr in Reliance's Jio Platforms, Picks Up 2.32 Pc Equity Stake

Mumbai (Maharashtra) [India], May 8 (ANI): After Facebook and Silver Lake, US-based Vista Equity Partners will invest Rs 11,367 crore into Jio Platforms for a 2.32 per cent stake, making it the third high profile investment in Reliance Industries Limited (RIL) unit.Vista's investment is at a 12.5 per cent premium over the Facebook deal announced in April."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," a statement from RIL read.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."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," RIL Chairman Mukesh Ambani said in the statement."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," he added.Vista portfolio companies have a significant presence in India with over 13,000 employees. This is Vista's first sizable investment in India, RIL said.Vista's investment will translate into a 2.32 per cent 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.On April 22, Facebook said that it would invest USD 5.7 billion in Jio Platforms for a 9.99 per cent stake. Later on May 4, US private equity firm Silver Lake said it will invest Rs 5,655.75 crore in Jio Platforms for a 1.15 per cent stake. (ANI)

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