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RIL share price gains 4% on Vista Equity investment; stock 4% away from 52-week high of Rs 1,617

Vista’s investment is at 12.5 percent premium over the Facebook deal announced in April.

May 08, 2020 / 12:36 PM IST

Reliance Industries (RIL) share price rose more than 4 percent intraday on May 8 after a US-based private equity fund said it is going to pick a stake in the company's digital unit.

The stock is just 4.5 percent away from its record high of Rs 1,617 registered on December 20, 2019.

The stock has rallied about 40 percent since April.

Vista Equity Partners will pick up a 2.32 percent stake in the company's Jio Platforms for Rs 11,367 crore at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore.