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US private equity firm Silver lake to invest ₹4,546.80 cr for 0.93% additional stake in Jio platforms

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Silver Lake to invest ₹4,550 croreOn June 05, 2020, Following the investment of Abu Dhabi’s  Mubadala Investment Company in Reliance’s Jio Platforms, US(United States) private equity company Silver Lake partners announced an investment of Rs 4,546.80 crore for an additional 0.93 % stake in Jio Platforms, a subsidiary of Asia’s richest man Mukesh Ambani-controlled Reliance Industries Ltd (RIL).

  • It is to be noted that, earlier on May 04, 2020, Silver Lake had invested Rs 5,655.75 crore ($750 million) for a 1.15 % stake. 

Aggregate investment by Silver Lake: Thus, Silver Lake’s total investment in Jio platforms will increase to Rs 10,202.55 crore for 2.08 %.

Sixth major investment in six weeks: With this investment, Jio platform has raised a total of Rs 92,202.12 crore so far, from Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR and Mubadala in the past nearly six weeks.

Key Points:

i.With this investment, the equity value of Jio platform is Rs 4.91 lakh crore and the enterprise value is 5.16 lakh crore & also represents an important component of the revival of the Indian economy as severe economic crisis caused by the coronavirus (COVID-19) pandemic.

ii.Silver Lake is known for investing in technology companies around the world. The company has invested in some of the biggest and successful companies around the world, including companies such as Twitter, Airbnb, Alibaba, Dell Technologies, ANT Financials, Alphabet’s Waymo and Verily.

About Silver Lake partners:
Headquarters– California, United States
Co-CEO – Egon Durban 

About Reliance Industries Ltd:
Headquarters– Mumbai, Maharashtra
Chairman and MD– Mukesh Ambani