Reliance Jio, the telecom unit of Reliance Industries, on May 17 announced that it has sold a 1.34 percent to private equity firm General Atlantic for Rs 6598.38 crore.
Jio Platforms has raised Rs 67,194.75 crore from leading technology investors including Facebook, Silver Lake Partners, Vista Equity Partners and General Atlantic in less than four weeks now.
Here are the deals Reliance Jio has struck in recent days:
Jio-Facebook:
Facebook bought a 9.9 percent stake in Reliance Jio for $5.7 billion (Rs 43,574 crore) in a deal that gives the social media giant a firm foothold in a fast-growing market and helps the Indian oil-to-telecom conglomerate to significantly cut debt.
The deal valued Jio at Rs 4.62 lakh crore ($65.95 billion). It was Facebook’s biggest deal since its $22 billion buyout of WhatsApp in 2014.
Jio-Silver Lake:
American private equity giant Silver Lake Partners bought 1 percent stake in Jio Platforms for Rs 5,655.75 crore ($750 million) in a deal that took Jio's enterprise value to Rs 5.15 lakh crore — a 12.5 premium to the value indicated by Facebook.
Jio-Silver Lake deal came less than two weeks after the Facebook deal.
Jio-Vista Equity
Vista Equity Partners, a US-based private equity firm that runs the world’s largest exclusively tech-focused fund, picked up a 2.32 percent stake in Jio Platforms for Rs 11,367 crore, making it the third high-profile investment in the Reliance Industries Ltd (RIL) unit in as many weeks and underlining its status as a next-generation software and platform company.
This investment valued 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, which is the largest investor in Jio Platforms behind RIL and Facebook, is at a 12.5 percent premium over the deal with the social media network announced in April.
(Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd)
