After Facebook, US-based equity firm Vista Equity Partners is now investing in Reliance Jio. Mukesh Ambani-led Reliance Industries on Friday announced an Rs 11,367-crore stake sale in its digital unit Jio Platforms, a third deal in little over two weeks that will inject a combined Rs 60,596.37 crore in the telecoms-to-energy group to help it pare debt.
The deal values Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore. Reliance Industries said, “it aims to make Jio Platforms, a global technology leader and among the leading digital economies in the world.”
Announcing the deal, Mukesh Ambani, Chairman, and Managing Director, Reliance Industries 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.”
Vista, which began investing in software firms 20 years ago, said it would explore ways to expand the reach of its portfolio companies’ products and services in India. Some of its portfolio firms already have a significant presence in India, the world’s second-largest internet market.