Reliance Industries Limited (RIL) on Friday announced that US-based equity and capital venture firm Vista Equity Partners will invest Rs 11367 crore into Jio Platforms for a 2.32 per cent stake.
This is the third high profile investment made with Jio Platforms after top companies Facebook and Silver Lake also decided to invest in one of the premier technology companies in India.
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While Silver had announced an investment of Rs 5665.75 crore in Jio Platforms, Facebook announced to spend Rs 43574 crore on the technology company.
“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’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,” it added.
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RIL also said that Jio Platforms has now raised Rs 60, 596.37 crores from leading technology investors in less than three weeks.
“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 Mukesh Ambani said.
“They believe in the transformative power of technology to be the key to an even better future for everyone,” he added.
“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,” he added.
“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 further said.