Mumbai, May 8: US-based Vista Equity Partners has picked up an equity stake in Reliance Jio's platform. Reliance Industries will sell 2.3 percent stake in Jio Platforms to Vista Equity Partners for Rs 11,367 crore, valuing its subsidiary at Rs 4.91 trillion. This is the third stake sale by RIL in Jio in just over two weeks.
In less than three weeks now, Jio Platforms has raised Rs 60,596.37 crore from leading technology investors. Last month, Ambani agreed to sell a 10 per cent stake to Facebook for $5.7bn and earlier this week a $750m deal with Silver Lake Partners that valued Jio at $65bn. Facebook Announces Investment of Rs 43,574 Crore in Reliance Jio Platforms For 9.99% Stake.
Here's the media release:
US Based Vista Equity Partners picks up equity stake in Reliance’s JIO platform pic.twitter.com/gziXlc7BR4
— ANI (@ANI) May 8, 2020
This sale, third overall, is part of the parent company to be debt-free. The series of deals in this short span highlights the growing appeal of Jio to foreign investors. The company is in talks with investors to sell more of its newer and digital businesses.
(The above story first appeared on LatestLY on May 08, 2020 08:00 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).