Reliance Jio Stake News

American company Silver Lake bought 1.15% stake in corporate deal / Reliance Jio, Rs 5655 crore Investment

Reliance Industries Limited (RIL) and Jio Platforms Limited (Jio Platform) announced on Monday that the US company would invest Rs 5,655.75 crore in the Silver Lake Jio platform. This investment has been made at the equity value of Jio platform at Rs 4.90 lakh crore and enterprise value at Rs 5.15 lakh crore. With this investment, Silver Lake will have a 1.15% stake in the Jio platform.

Last month, the legendary social media company Facebook invested Rs 43,574 crore in the Jio platform. Following this investment, Facebook has a 9.99% stake in the Jio platform. The investment was announced by Reliance Industries and Facebook on 22 April. This was the largest foreign investment ever in India.

Reliance Industries, in its board meeting held before the announcement of fourth quarter results on April 30, had said to sell more 10% stake in Jio Platform. Reliance had issued an official statement saying that many global investments are showing interest in investing in Jio platform. Some of these investments may be announced in the coming months. Five days after this announcement, Silver Lake has invested.

Silver Lake is a US-based private equity firm that invests in tech companies around the world. Silver Lake has invested in a number of global technology companies including Airbnb, Alibaba, Ant Financial, Alphabet’s Varilee & Wymo Units, Dell Technology and Twitter. Now Silver Lake has made a big investment in the Jio platform. Silver Lake has about 40 billion dollars of combined asset under management.

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