RIL gains over 3% after Vista acquires 2.32% in Jio

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Mumbai: After Facebook and Silver Lake, another US based private equity and venture capital firm Vista Equity has announced that it will invest Rs. 11,367 crore to acquire 2.32% in Jio Platforms . Following the investment, Vista will be the third largest investor in Jio after RIL and Facebook.

The Shares of RIL gain over 3.19% at rs.1555.35 on the Bombay Stock Exchange (BSE) at 10.30 am IST.

“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. Vista’s investment will translate into a 2.32% 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” said Reliance Industries in  a market filing.

“In Robert and Brian( the founders of Vista), whose family hails from Gujarat, I found two outstanding global technology leaders who believe in India and the transformative potential of a Digital Indian Society. We are excited to leverage the professional expertise and multi-level support that Vista has been offering to its investments globally for the benefit of Jio” said Mukesh Ambani, Chairman and Managing Director, RIL.

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