US-based Vista Equity Partners to invest Rs 11,367 crore in Reliance Jio

WION Web Team
New Delhi, India Published: May 08, 2020, 08.28 AM(IST)

File photo: A woman checks her mobile phone as she walks past a Jio store in Mumbai. Photograph:( Reuters )

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Vista has more than $57 billion in cumulative capital commitments and its global network of companies collectively represent the 5th largest enterprise software company in the world.
 

Reliance Industries Limited and Jio Platforms Limited on Friday announced that Vista Equity Partners will invest Rs 11,367 crore in to Jio Platforms.

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.

Also read: Facebook buys 9.99% equity stake in India's Reliance Jio

Vista's investment will translate into a 2.32 per cent equity stake in Jio Platforms on a fully diluted basis, making Vista 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.

Also read: Here's what Facebook CEO Mark Zuckerberg said after teaming up with Mukesh Ambani's Jio

Vista has more than $57 billion in cumulative capital commitments and its global network of companies collectively represent the 5th largest enterprise software company in the world.

Commenting on the investment, Robert F. Smith, Founder, Chairman and CEO of Vista, said, "We are thrilled to join Jio Platforms to deliver exponential growth in connectivity across India, providing modern consumer, small business and enterprise software to fuel the future of one of the world`s fastest growing digital economies."

Jio Platforms, a wholly-owned subsidiary of Reliance Industries Limited, is a next-generation technology company building a Digital Society for India by bringing together Jio's digital apps, digital ecosystems and high speed connectivity platform under one umbrella.

Commenting on the transaction, Mukesh Ambani, Chairman and Managing Director, Reliance Industries Ltd, 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.''

Previously, Mark Zuckerberg's Facebook bought 9.99 per cent equity stake in Jio.

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