Moneycontrol
Get App
you are here: HomeNewsBusiness
Last Updated : May 08, 2020 03:29 PM IST | Source: Moneycontrol.com

Here's how Jio raised over Rs 60,596 crore in less than three weeks

Vista Equity Partners' 2.32 percent stake purchase is the third major investment received by Jio Platforms in less than three weeks, after deals with Facebook and Silver Lake Partners.


Jio Platforms on May 8 said it has raised Rs 60,596.37 crore (roughly $8.19 billion) from investors in less than three weeks.

Vista Equity Partners is the latest to show interest in Jio Platforms where it will invest Rs 11,367 crore for a 2.32 percent stake in Jio Platforms, a unit of Reliance Industries (RIL), as announced on May 8.

This is the third major investment received by Jio Platforms in less than three weeks, after deals with social media giant Facebook and private equity firm Silver Lake Partners.

Close

After the three high-profile deals, Facebook is Jio Platform's second largest shareholder after RIL. Vista Equity Partners is the third largest shareholder, while Silver Lake comes fourth.

All three deals have been made at a time when businesses are going through a rough patch due to the COVID-19 pandemic.

Let's take a look at the highlights of the other two deals that Jio Platforms has signed recently.

April 22: The Facebook-Jio deal

On April 22, RIL said Facebook acquired a 9.9 percent in Jio Platforms for 43,574 crore (roughly $5.7 billion).

"The investment values Jio Platforms amongst the top five listed companies in India by market capitalization, within just three and a half years of launch of commercial services," the company said.

The deal was also Facebook's biggest bet after it acquired WhatsApp in 2014.

May 4: Silver Lake Partners invests in Jio

US-based Silver Lake Partners purchased a 1.15 percent stake in Jio Platforms for Rs 5,655.75 crore (roughly $750 million).

The transaction, announced on May 4, was a 12.5 percent premium to Jio Platforms' deal with Facebook, similar to the share purchase by Vista Equity Partners.

Enterprise value

The telecom company's deal with Facebook was done at an enterprise value of Rs 4.62 lakh crore, while the transaction with Vista Equity Partners was conducted at an enterprise value of Rs 5.16 lakh crore.

Silver Lake Partners bought the stake at an enterprise value of Rs 5.15 lakh crore.

Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.

Moneycontrol Ready Reckoner
Now that payment deadlines have been relaxed due to COVID-19, the Moneycontrol Ready Reckoner will help keep your date with insurance premiums, tax-saving investments and EMIs, among others.

First Published on May 8, 2020 09:07 am
Sections
Follow us on