India’s Reliance says Vista Equity to invest $1.50 billion in digital arm
A woman rides her scooter pasts of Reliance Industries’ Jio telecoms unit, in Ahmedabad, India, July 5, 2018. REUTERS/Amit Dave
May 8, 2020
(Reuters) – India’s Reliance Industries Ltd said on Friday private equity firm Vista Equity Partners would invest 113.67 billion rupees ($1.50 billion) in its Jio platforms for a 2.32% stake.
“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,” Reliance said in a statement.
Facebook Inc and Silver Lake have already announced plans to take stakes in Jio.
(Reporting by Juby Babu in Bengaluru; Editing by Anil D’Silva)