May 2020 \ Business & Investment \ BUSINESS AND GOVERNANCE

Reliance Industries Limited and Jio Platforms Limited ...

  • Mr Mukesh Ambani, CMD, Reliance Industries Ltd

Reliance Industries Limited and Jio Platforms Limited in May announced that Vista Equity Partners will invest Rs 11,367 crore in to Jio Platforms. 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. Vista’s investment will translate into a 2.32 per cent equity stake in Jio Platforms on a fully diluted basis, making Vista the largest investor in Jio Platforms behind Reliance Industries and Facebook. Jio Platforms has now raised Rs 60,596.37 crore from leading technology investors in less than three weeks.

Jio Platforms, a wholly-owned subsidiary of Reliance Industries Limited, is a next-generation technology company building a Digital Society for India by bringing together Jio’s digital apps, digital ecosystems and high speed connectivity platform under one umbrella. Reliance Jio Infocomm Limited, which provides connectivity platform to over 388 million subscribers, will continue to be a wholly-owned subsidiary of Jio Platforms.

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