Vista-Equity Partners has picked up a 2.32 percent stake in Jio Platforms for Rs 11,367 crore in a deal that was announced on May 8, valuing the Jio Platforms at Rs 4.91 lakh crore in terms of equity.
Here are five key points to know:
1. The deal values Jio Platforms at a 12.5 percent premium to the Facebook deal in April. This, as per Reliance Industries Limited, assigns an equity value of Rs 4.91 lakh crore and an enterprise value of ₹ 5.16 lakh crore
2. Vista Equity Partners now becomes the third biggest investor in Jio Platforms after Reliance Industries and Facebook. Silver Lake Partners that announced a deal on May 4 comes in fourth with its 1 percent stake.
3. This is the third deal that Reliance Jio has announced within a span of 16 days after Facebook bought a 9.99 percent stake on April 22 - raising as much as Rs 60,596.37 crore or close to $8.19 billion.
4. Jio Platforms now joins Vista Equity Partners' $57 billion portfolio of largely tech-focused companies. Vista Equity Partners is the 5th largest enterprise software company in the world.
5. In terms of market cap , Jio Platforms, though unlisted, with its valuation numbers has become the fourth biggest company in India ahead of FMCG giant Hindustan Unilever and after RIL itself on top, TCS and HDFC Bank.
Follow all of our coverage on Jio-Vista Equity Partners deal here
Disclosure: [Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.]
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