Vista Equity Partners to buy 2.32% stake in Jio Platforms for Rs.11,367 crore

Vista Equity Partners, a US-based private equity firm that runs the world’s largest exclusively tech-focused fund, will pick up a 2.32 percent stake in Jio Platforms for Rs 11,367 crore, making it the third high-profile investment in the Reliance Industries Ltd (RIL) unit in as many weeks and underlining its status as a next-generation software and platform company.
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, which makes the largest investor in Jio Platforms behind RIL and Facebook, is at a 12.5 percent premium over the deal with the social media network announced in April.
Facebook bought a 9.9 percent stake in Jio for Rs 43,574 crore.
On May 4, American private equity giant Silver Lake Partners purchased 1 percent of Jio Platforms for Rs 5,655.75 crore.