Jio Platforms raised over Rs 92200 Crore in Less than Six Weeks
US private equity firm silver Lake and its co-investors will invest an additional Rs 4,546.80 crore in reliance industries Limited’s (RIL) jio Platforms. The aggregate investment by silver Lake and its co-investors in jio Platforms now stand at Rs 10,202.55 crore, said RIL in a press release. With the fresh investment, silver Lake will now have 2.08 per cent equity stake in jio Platforms. silver Lake had earlier bought 1.15 per cent stake in jio Platforms for an amount of Rs 5,655.75 crore.
“Silver Lake’s investment values jio Platforms at an equity value of 4.91 lakh crore and an enterprise value of 5.16 lakh crore, and will translate into a 2.08% equity stake in jio Platforms on a fully diluted basis,” RIL said. With the fresh investment, jio Platforms has raised Rs 92,202.15 crore from leading technology investors in approximately six weeks. Commenting on the additional investment, RIL Chairman mukesh ambani said, “Silver Lake and its co-investors are valued partners as we continue to grow and transform the indian wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW">digital ecosystem for the benefit of all Indians.”
“I would like to emphasise that silver Lake’s additional investment in jio Platforms, within a span of five weeks during the Covid-19 pandemic, is a strong endorsement of the intrinsic resilience of the indian economy, which will surely grow bigger with comprehensive wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW">digital enablement,” he added. It may be noted that the announcement about additional investment by silver Lake in jio Platforms comes in less than 24 hours after Abu Dhabi’s Mubadala said it will invest Rs 9,093.6 crore in jio Platforms.