US-based Vista Equity Partners on Friday announced it will invest Rs 11,367 crore in Jio Platforms, a wholly-owned subsidiary of Reliance Industries (RIL), pegging the Indian firm at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore.
Vista’s investment will translate into a 2.32 per cent equity stake in Jio Platforms on a fully diluted basis, making Vista the largest investor in Jio Platforms behind RIL and Facebook. Jio has now raised Rs 60,596.37 crore from leading technology investors in less than three weeks. Silver Lake recently proposed to invest Rs 5,655.75 crore in Jio Platforms, while Facebook agreed to buy a 9.99 per cent equity stake in Jio for Rs 43,574 crore with an eye on India’s 6 crore small businesses and a huge digital customer base of 1.3 billion users.
Vista is a leading global investment firm focused on empowering and growing enterprise software, data and technology enabled companies that are reinventing industries and catalysing change. Vista has over $57 billion in cumulative capital commitments and its global network of companies collectively represent the fifth largest enterprise software company in the world.
Mukesh Ambani, chairman and MD, RIL, said, “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. They believe in the transformative power of technology to be the key to an even better future for everyone. 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.”
“We are thrilled to join Jio Platforms to deliver exponential growth in connectivity across India, providing modern consumer, small business and enterprise software to fuel the future of one of the world’s fastest growing digital economies,” said Robert F Smith, founder, chairman and CEO of Vista.
Third investor in three weeks for RJIO
– Vista Equity Partners is now the largest investor in Jio Platforms behind Reliance Industries and Facebook. Jio has now raised `60,596.37 crore from leading technology investors in less than three weeks
– Vista is a leading global investment firm focused on empowering and growing enterprise software, data and technology enabled companies that are reinventing industries and catalysing change
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