In this edition of Big Story, Moneycontrol's Sakshi Batra shares her insight on the deals undertaken by Reliance Industries and how the company has changed the game in the digital market
In less than three weeks, the digital unit of Reliance Industries has been able to raise over Rs 60,500 crore from leading technology investors.
Vista Equity Partners, a US-based private equity firm, has picked up a 2.32 percent stake in Jio Platforms for Rs 11,367 crore, making it the third high-profile investment in the RIL's digital unit, thus underlining its status as a next-generation software and platform company. 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.
On May 4, American private equity giant Silver Lake Partners purchased 1 percent in Jio Platforms for Rs 5,655 crore.
In April, Facebook too acquired a 9.9 percent stake in Jio for Rs 43,574 crore. This was the social media powerhouse’s biggest investment since its $22 billion buyout of WhatsApp in 2014.
The investments reaffirm Jio’s continuing attraction among global investors for its deep understanding of the Indian markets, the rapid digitisation opportunity post-COVID.
Experts believe such diverse marquee investors are becoming long-term shareholders of Jio Platforms because of a unique set of technologies and platforms under one entity.
As for RIL, these deals will give it the much-needed impetus to expand its digital services at a time when the global economies are reeling under recessionary pressures. These will also provide a big boost to the government’s ‘Digital India’ dream.
In this edition of Big Story, Moneycontrol's Sakshi Batra shares her insight on the deals undertaken by RIL and how the company has changed the game in the digital market.
Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.