Reliance Jio-Vista: All you need to know about Rs 11,367 crore deal

Indian multinational conglomerate company, Reliance Industries on Friday issued a statement saying that a US-based private equity Vista Equity Partners has invested a sum of Rs 11,367 crore in Jio Platform .

“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,” Chairman and Managing Director, Reliance Industries Ltd, Mukesh Ambani said.

The agreement materialized just days after the company issued a statement about another US-based private equity company, Silver Lake, was investing an amount of Rs 5,655.75 in Jio Platform. It is also the second major investment in the Jio platform by a US-based company after Facebook, which obtained a 9.99% stake in the company by putting in $5.7 billion.

Things you should know about Jio-Vista deal:

1. Vista’s investment values Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore. This value is close to the same as that of Silver Lake.

2. Vista’s investment will translate into a 2.32% equity stake in Jio Platforms on a fully diluted basis.

3. Vista’s investment in Jio Platform makes it the third largest investor after Reliance Industries and Facebook.

4. Jio Platforms has now raised ₹ 60,596.37 crore from leading technology investors in less than three weeks.

5. Morgan Stanley acted as financial advisor to Reliance Industries and AZB & Partners and Davis Polk & Wardwell acted as legal counsels.

Also Read: US-based Vista Equity Partners invests Rs 11,367 cr in Reliance's Jio Platforms, picks up 2.32% equity stake