PE firm Vista equity to invest ₹ 11,367 crore in Jio Platforms
- Private equity firm Vista Equity Partners will invest Rs11,367 crore in Jio Platforms for a 2.32% stake.
- This is Jio Platforms’ third deal after Facebook and Silver Lake’s share acquisition plans over the last two weeks.
- Jio Platforms has now raised ₹ 60,596.37 crore from leading technology investors in less than three weeks.
IMPORTANT HIGHLIGHTS
- This investment values Jio Platforms at an equity value of ₹4.91 lakh crore and an enterprise value of ₹5.16 lakh crore
- With this deal, Jio Platforms will have a net combined ₹60,596 crore for the unit of Reliance Industries which comprises mainly its telecom business under Reliance Jio Infocom.
- This investment values Jio Platforms at an equity value of ₹ 4.91 lakh crore and an enterprise value of ₹ 5.16 lakh crore.
- Vista will become the largest investor in Jio Platforms after RIL and Facebook.
- Morgan Stanley acted as financial advisor to Reliance Industries for the completion of the deal.
BACKGROUND
- On 22 April 2020, Facebook invested $5.7 billion in Jio Platforms for a 9.99% stake.
- On 4 May 2020, US private equity firm Silver Lake invested ₹5,655.75 crore in Jio Platforms for a 1.15% stake.
ABOUT JIO PLATFORM
- A wholly-owned subsidiary of Reliance Industries (RIL). RIL is India’s largest private sector company.
- HQ- Mumbai, Maharashtra
- Founder and Chairman- Mukesh Ambani
- Managing Director-Sandip Das
ABOUT VISTA EQUITY PARTNERS
- American private equity and venture capital
- Finances software and technology-enabled startup businesses.
- HQ– Austin, Texas, US
- Founder, Chairman and CEO of Vista-Robert F. Smith
- Co-Founder– Brian Sheth
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