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Jio Platforms: From Facebook to Saudi Arabia's PIF, here's a fact-box of the 11 deals so far

RIL, the oil-to-retail-to-telecom conglomerate, has now shed 24.7 percent stake in Jio Platforms and raised Rs 115,693.95 crore from some of the world’s top technology investors.
Jun 18, 2020 / 05:24 PM IST

Jio Platforms has roped in Saudi Arabia's Public Investment Fund (PIF), the country's sovereign wealth fund as its latest investor.

PIF will invest Rs 11,367 crore for a 2.32 percent stake.

Read More | Jio-PIF deal: Jio Platforms gets 11th investor as Saudi Arabia’s PIF joins rush for RIL unit

RIL, the oil-to-retail-to-telecom conglomerate, has now shed 24.7 percent stake in Jio Platforms and raised Rs 115,693.95 crore from some of the world’s top investors.

The investment by PIF, estimated to own combined assets of nearly $400 billion, in Jio Platforms is at an equity valuation of Rs 4.91 lakh crore and an enterprise valuation of Rs 5.16 lakh crore. It comes close on the heels of investments by private equity giants L Catterton and TPG.

This is Jio's eleventh deal in nine weeks, following investments from Facebook IncGeneral AtlanticSilver LakeVista Equity PartnersKKR and Mubadala Investment CompanyADIA and TPG Capital and L Catterton.

Here's a summary of the eleven deals:

PHOTO-2020-06-18-16-26-58

Facebook-Jio deal

The California-based company invested $5.7 billion (Rs 43,574 crore) into Jio Platforms for a 9.9 percent stake in the company.

The transaction, announced on April 22, is the largest of the six investments. It was also Facebook's biggest bet since it acquired messaging platform WhatsApp in 2014.

The deal also made Facebook the largest minority shareholder in Jio Platforms.

Jio-Silver Lake deal

Silver Lake Partners acquired a 1.15 percent stake in Jio Platforms for Rs 5,655.75 crore ($750 million).

Jio-Vista deal

Vista Equity Partners bought a 2.32 percent stake in Jio Platforms for Rs 11,367 crore.

Jio-General Atlantic deal

Private equity firm General Atlantic picked up a 1.34 percent stake in Jio Platforms for 6,598.38 crore.

Jio-KKR deal

KKR acquired a 2.32 percent stake in Jio Platforms for Rs 11,367 crore, similar to the deal made with Vista Equity Partners.

Jio-Mubadala deal

The deal with the Abu Dhabi-based sovereign investor, announced on June 5, valued Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore.

Facebook 's investment had valued Jio Platforms at a pre-money enterprise value of Rs 4.62 lakh crore ($65.95 billion).

Jio-Silver Lake deal 2.0

Silver Lake will invest an additional Rs 4,546.8 crore in Jio Platforms for 0.93 percent stake. The aggregate investment by Silver Lake is now Rs 10,202.55 crore for a 2.08 percent stake in Jio Platforms.

Jio-ADIA deal

Abu Dhabi Investment Authority (ADIA) will pump Rs 5,683.5 crore into Jio Platforms.

ADIA’s investment at an equity valuation of Rs 4.91 lakh crore and enterprise valuation of Rs 5.16 lakh crore.

Jio-TPG Capital deal

TPG’s investment in Jio is Rs 4,546.80 crore for a 0.93 percent stake assigning it an equity valuation of Rs 4.91 lakh crore and an enterprise valuation of Rs 5.16 lakh crore.

Jio-L Catterton deal

L Catterton will invest Rs 1,894.50 crore in exchange for a 0.39 percent stake in Jio Platforms, a record tenth investment in the Reliance Industries (RIL) digital unit in seven weeks.

Jio-PIF deal

Saudi Arabia’s PIF, one of the world’s largest sovereign wealth funds, will invest Rs 11,367 crore for 2.32 percent of Jio Platforms.

(Disclaimer: Reliance Industries (RIL) is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd)
Moneycontrol News
first published: Jun 18, 2020 05:24 pm
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