Vista Equity Partners to invest in Jio Platforms of Rs. 11,367 crore
New Delhi: For a 2.32 percent stake, Private equity firm Vista Equity Partners is to invest Rs. 11, 367 crores into Jio Platforms. After Facebook and Silver Lake’s share acquisition proposals, this is the third investment announcement for Mukesh Ambani’s company.
“This investment 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 (RIL) said in a statement on Friday. Jio Platforms is a completely owned subsidiary of RIL.
Ambani, chairman, and managing director, RIL, said, “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,” said, commenting on the transaction.
Robert F Smith, founder, chairman, and CEO of Vista said, “We believe in the potential of the Digital Society that Jio is building for India. Mukesh’s vision as a global pioneer, alongside Jio’s world-class leadership team, has built a platform to scale and advance the data revolution it started.”
The RIL statement mentioned that the transaction is subject to regulatory and other customary approvals.
Morgan Stanley acted as financial advisor to RIL and AZB & Partners and Davis Polk & Wardwell acted as legal counsels. Kirkland & Ellis LLP and Shardul Amarchand Mangaldas & Co served as legal counsels to Vista.