Advertisement
Tuesday, Nov 30, 2021
Outlook.com
Outlook.com

Vista to invest Rs 11,367 crore in Jio Platforms

Vista to invest Rs 11,367 crore in Jio Platforms
outlookindia.com
1970-01-01T05:30:00+0530
Vista to invest Rs 11,367 crore in Jio Platforms

Mumbai, May 8 (IANS) Reliance Industries Limited and Jio Platforms Limited on Friday announced that Vista Equity Partners will invest Rs 11,367 crore in to Jio Platforms. 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 per cent 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.

Jio Platforms, a wholly-owned subsidiary of Reliance Industries Limited, is a next-generation technology company building a Digital Society for India by bringing together Jio''s digital apps, digital ecosystems and high speed connectivity platform under one umbrella. Reliance Jio Infocomm Limited, which provides connectivity platform to over 388 million subscribers, will continue to be a wholly-owned subsidiary of Jio Platforms.

Vista is a leading global investment firm focused on empowering and growing enterprise software, data and technology enabled companies that are reinventing industries and catalyzing change. Vista has more than $57 billion in cumulative capital commitments and its global network of companies collectively represent the 5th largest enterprise software company in the world.

Commenting on the transaction, Mukesh Ambani, Chairman and Managing Director, Reliance Industries Ltd, said, "Like our other partners, Vista als o 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."

Commenting on the investment, Robert F. Smith, Founder, Chairman and CEO of Vista, said, "We are thrilled to join Jio Platforms to deliver exponential growth in connectivity across India, providing modern consumer, small business and enterprise software to fuel the future of one of the world''s fastest growing digital economies."

The transaction is subject to regulatory and other customary approvals. Morgan Stanley acted as financial advisor to Reliance Industries and AZB & Partners and Davis Polk & Wardwell acted as legal counsels.

Kirkland & Ellis LLP and Shardul Amarchand Mangaldas & Co served as legal counsels to Vista.

--IANS

sn/rt


Disclaimer :- This story has not been edited by Outlook staff and is auto-generated from news agency feeds. Source: IANS

More from Website

IND Vs NZ, 1st Test: Draw Ends 14 Successive Results In India - Stats Highlights

IND Vs NZ, 1st Test: Draw Ends 14 Successive Results In India - Stats Highlights

India and New Zealand settled for draw after five days of thrilling contest in the first Test match at Green Park, Kanpur. Here's a look at some key facts and numbers from the match.

Meet Parag Agrawal: The New Indian Origin CEO Of Twitter

Meet Parag Agrawal: The New Indian Origin CEO Of Twitter

The incoming CEO is an IIT Bombay graduate who joined Twitter a decade back after having worked at Microsoft, Yahoo and AT&T in research positions.

ISL 2021-22: East Bengal Eye 1st Win In Indian Super League, Face Odisha FC Test

ISL 2021-22: East Bengal Eye 1st Win In Indian Super League, Face Odisha FC Test

Odisha FC, who won their first match 3-1 against Bengaluru FC courtesy Javi Hernandez's brace, will hope to continue their winning run while East Bengal will focus on bouncing back after a defeat to ATK Mohun Bagan in the Kolkata Derby.

More from Outlook Magazine

Of Protests, Heart Attack And Success: 74-Year-Old Farmer Recalls Her Journey From Amritsar To Singhu

Of Protests, Heart Attack And Success: 74-Year-Old Farmer Recalls Her Journey From Amritsar To Singhu

A 74-year-old woman from Amritsar narrates how she braved social prejudice, bitter cold and a heart attack to stay put at Singhu border with other protestors.

Dissent Is A Work Of Art

Dissent Is A Work Of Art

As a medium of ethical intervention, art has been pivotal in conveying messages of recent protests to the masses

From Arab Spring To Anti-Covid Stir, How The World Is Protesting

From Arab Spring To Anti-Covid Stir, How The World Is Protesting

Democracy is straining at the seams as authoritarian governments across the world lock horns with citizens.

Advertisement

Outlook Newsletters

Advertisement
Advertisement