US-based Silver Lake buys 1.15% stake in Reliance Jio for Rs 5,655.75 cr

American private equity giant Silver Lake Partners has announced to buy 1.15% stake in Jio Platforms for Rs 5,655.75 crore ($750 million).
Jio Platforms, is a wholly-owned subsidiary of Reliance Industries Limited (RIL) and works on digital apps, digital ecosystems and the mobile service.
This deal values Jio Platforms at Rs 4.90 lakh crore on equity basis and Rs 5.15 lakh crore on enterprise value basis.
It must be remembered that Facebook has also spent $5.7 billion (Rs 43,574 crore) to buy a 9.99 percent stake in Jio in April 2020.
Although the deal with Silver Lake is smaller than the one with Facebook, it represents a 12.5% premium to the equity valuation of the Facebook investment.