Vista Equity Partners to pick up 2.32% stake in Jio Platforms for Rs 11,367cr – Moneycontrol.com

Vista Equity Partners will pick up a 2.32 percent stake in Jio Platforms for Rs 11,367 crore at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore. The US-based private equity firm that runs the world’s largest exclusively tech-focused fund.

This is the third high-profile investment in the Reliance Industries Ltd (RIL) unit. In less than three weeks now, Jio Platforms has raised Rs 60,596.37 crore from leading technology investors.

Vista’s investment is at an 12.5 percent premium over the Facebook deal announced in April. The investment by Silver Lake Partners in Jio announced earlier this week was also at a similar premium to the Facebook deal.

Commenting on the transaction with Vista, Mukesh Ambani, Chairman and Managing Director – Reliance Industries Ltd, 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. They believe in the transformative power of technology to be the key to an even better future for everyone. In Robert and Brian, 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.”

Vista has a track record of investing in cutting edge tech companies in their early stage. Each of its investments have been profitable in its history of 10 years. This is Vista’s first sizable investment in India.

This reaffirms Jio as a strong tech-enterprise focused on one of the most exciting and large markets in the world and emphasises the quality of management.

Vista’s investment showcases Jio as the next-generation software and platform company.

This also is an endorsement of Jio’s tech capabilities and the potential of the business model even in this COVID-19 world and beyond.

This reaffirms Jio’s continuing attraction among global investors for its deep understanding of the Indian markets, the rapid digitisation opportunity post-COVID-19 and its capabilities to bring cutting-edge technologies and tools such as AI, Blockchain, AR/VR and Big data into play for all Indians.

Diverse marquee investors are becoming long-term shareholders of Jio Platforms because of a unique set of technologies and platforms under one entity. There are no similar opportunities available anywhere else globally.

Disclosure: [Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.]

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