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Vista Equity Partners picks up 2.32 pc stake in Jio Platforms for Rs 11,367 cr: Statement

Vista's investment in Jio Platforms Limited will translate into a 2.32 per cent stake, which will make Vista the largest investor in Jio Platforms after Reliance Industries and Facebook.

By: Express Web Desk | New Delhi | Updated: May 8, 2020 8:55:05 am
jio symptom checker, jio data leak, jio coronavirus symptom checker data leak, jio symptom checker data leak, jio, coronavirus symptom, covid19 Reliance Industries’ Jio Platform. (Image: Reuters)

Vista Equity Partners picked up 2.32 per cent stake in Jio Platforms Limited, part of Mukesh Ambani-led Reliance Industries, for Rs 11,367 crore, as per a statement by Reliance Industries Limited. 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. Vista’s investment in Jio Platforms Limited will translate into a 2.32 per cent stake, which will make Vista the largest investor in Jio Platforms after Reliance Industries and Facebook.

Facebook had bought 9.99 per cent stake in Jio Platforms – the firm that houses India’s youngest but biggest telecom firm, for Rs 43,574 crore. That deal was followed by Silver Lake – the world’s largest tech investor – buying 1.15 per cent stake in Jio Platforms for Rs 5,665.75 crore.

“Jio Platforms has now raised Rs 60,596.37 crore from leading technology investors in less than three weeks,” the statement said. Jio Platforms, a wholly-owned subsidiary of Reliance Industries, is 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, which provides connectivity platform to over 388 million subscribers, will continue to be a wholly-owned subsidiary of Jio Platforms. “I am delighted to welcome Vista, one of the world’s marquee tech investors globally as a valued partner. 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 and Managing Director Mukesh Ambani said.

Ambani further said “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.”

Vista is a global investment firm which focuses on empowering and growing enterprise software, data and technology enabled companies that are reinventing industries and catalyzing change. Currently, Vista portfolio companies have a significant presence in India with over 13,000 employees.

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