US based Private equity firm Silver Lake to invest Rs.5656 Crore in Jio

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Mumbai: Two weeks after the announcement of the mega Facebook deal, another US-based firm Silver Lake has announced to invest Rs.5655.75 Crore in the Jio Platform.

This investment values Jio Platforms at an equity value of Rs. 4.90 lakh crore and an enterprise value of Rs. 5.15 lakh crore and represents a 12.5% premium to the equity valuation of the Facebook investment announced on April 22, 2020, said Reliance Industries Ltd (RIL).

On April 22 social media giant Facebook had announced an investment of USD 5.7 billion in Jio to acquire 9.9% stake.

With approximately $40 billion in combined assets under management and committed capital and a singular focus on the world’s great tech and tech-enabled opportunities, Silver Lake is the global leader in large-scale technology investing. Its mission is to build and grow great companies by partnering with world-class management teams. Its investments have included Airbnb, Alibaba, Ant Financial, Alphabet’s Verily and Waymo units, Dell Technologies, Twitter and numerous other global technology leaders.

“This investment by Silver Lake is further testament to the world-class digital platform that Jio has built, powered by leading technologies, such as Broadband connectivity, Smart Devices, Cloud and Edge Computing, Big Data Analytics, Artificial Intelligence, Internet of Things, Augmented and Mixed Reality and Blockchain” said RIL.

“.. Silver Lake has an outstanding record of being a valuable partner for leading technology companies globally. Silver Lake is one of the most respected voices in technology and finance. We are excited to leverage insights from their global technology relationships for the Indian Digital Society’s transformation”said Mukesh Ambani, CMD, RIL.

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