US-based Vista Equity Partners Ltd has announced an investment of Rs 11,367 crore in Reliance Jio Platforms. With this, the equity firm will buy a 2.3 per cent stake in Jio Platforms.
The investment values Jio Platforms at an equity value of Rs 4.91 lakh crores and an enterprise value of Rs 5.16 lakh crores. Vista Equity Partners’ have more than $57 billion in capital commitments across various sectors and it was founded in the year 2000. Vista Equity Partners have invested in various companies including financial services firms Advicent and Finastra, agriculture industry with AGData, construction company Eagle View, healthcare companies Advanced, Alegus and MindBody, insurance company Plansource, media and entertainment firms such as FWI and Naviga, the retail space with Kibo and in the global communication space with Tomia.
With this, Reliance Jio Platforms has now raised Rs 60,596.37 crore from different investors in less than three weeks. Facebook acquired a 9.9 per cent stake in Jio Platforms for Rs 43,574 crore. This makes Facebook Jio Platform largest minority shareholder and it is said be to the largest investment for a minority stake by a technology company around the world and largest FDI investment in the technology sector in India. However, the transaction is subject to regulatory and other customary approvals.
The second investment came from Silver Lake Partners that invested in the company for Rs 5,655 crore. The company has revealed that the 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 per cent premium to the equity valuation of the Facebook investment announced on April 22, 2020.