RIL sells another 2.32% in Jio, this time to Vista Equity for Rs 11,367 cr

This is Jio’s third major announcement in three weeks after it previously sold stakes to Facebook and Silver Lake\

Reliance Jio Platforms, part of Mukesh Ambani-controlled Reliance Industries group, has sold a 2.32 per cent stake to US-based private equity firm Vista Equity on a fully diluted basis for Rs 11,637 crore. This is a third major equity deal for Jio Platforms in three weeks — it previously sold a 9.9 per cent stake to Facebook for Rs 43,534 crore, and then 1.5 per cent to Silver Lake for Rs 5,655 crore. The Vista Equity investment has valued Jio Platforms at an equity value of Rs 4.91 trillion and an enterprise value of Rs 5.16 trillion. Vista’s investment will make Vista it “the largest investor in Jio Platforms behind Reliance Industries and Facebook”. Jio Platforms has now raised Rs 60,596.37 crore from leading technology investors in less than three weeks.

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Vista is a global investment firm focused on empowering and growing enterprise software, data and technology-enabled companies. It has more than $57 billion in cumulative capital commitments and its global network of companies collectively represents the fifth-largest enterprise software company in the world. Commenting on the deal, Reliance Industries Chairman and Managing Director Mukesh Ambani said: “I am delighted to welcome Vista, one of the world’s marquee tech investors 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. ..Read More