US-based private equity firm Vista Equity Partners invests $1.5 billion (~Rs 11,367 crore) for a 2.32% stake in Reliance Jio Platforms on Friday joining Facebook ($5.7 billion) and Investment firm Silver Lake ($746.8 million) in the Digital company of Mukesh Ambani.
Vista Equity Partners is an American private equity and venture capital firm headquartered in Austin, Texas.
“This investment values Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore,” the company said in a statement.
In the past few weeks, Reliance Jio has announced to sell 13.4% of stake in the firm to Facebook, Silver Lake, and Vista Equity Partners for about $8 billion (Rs 60,596.37 crore).
Reliance Jio is the largest telecom network of the country with over 388 million users.
Jio Platforms is the suite of services including music streaming service JioSaavn, smartphones, broadband business, on-demand live television service JioTV, and payments service JioPay.
In September 2017, Vista Equity Partners pledged one million dollars to assist the Akshaya Patra Foundation to deliver meals to Indian school children.
In the company’s earnings call last week, Ambani said several firms had expressed interest in buying a stake in Jio Platforms, in which he has invested over $30 billion, in wake of the deal with Facebook.
After the investment from Facebook, the company started its JioMart e-commerce venture service in India with orders can be placed via Whatsapp that has more than 400 million users in India.