On May 8, 2020 As per the Reliance Industries Limited’s statement, the US-based private equity firm Vista Equity Partners to buy 2.32% stake in Reliance’s Jio Platforms, for Rs 11,367 crore which will make Vista the largest investor in Jio Platforms after Reliance Industries and Facebook. After this investment, Jio platforms will have an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore.Key Points
i.Facebook has bought a 9.99% stake in Jio Platforms for Rs 43,574 crore on April 22. The deal was followed by US private equity firm Silver Lake, the world’s largest tech investor, bought 1.15% stake in Jio Platforms for Rs 5,655.75 crore on May 4.
ii.Jio Platforms has now raised Rs 60,596.37 crore from leading technology investors in less than 3 weeks.
It is a wholly-owned subsidiary of Reliance Industries & a next-generation tech company that brings together Jio’s leading digital apps, digital ecosystems and high-speed connectivity platform under one umbrella. Reliance Jio Infocomm Limited, a wholly-owned subsidiary of Jio Platforms provides a connectivity platform to over 388 million subscribers.
Vista Equity Partners
It is a leading global investment company focused on empowering enterprise software, data and technology-enabled companies that reinvent businesses and catalyze change. Currently has over 13,000 employees & is the 5th largest enterprise software company in the world. It has over USD 57 billion in capital commitments and 20 years of investments exclusively in enterprise software and technology companies.
Founder, Chairman & CEO– Robert F. Smith
Corporate Office– Mumbai, Maharashtra
Chairman & Managing Director(MD)– Mukesh D. Ambani