May 7, 2020 9:43 pm
Categories: JoshWho News Tech

A woman rides her scooter pasts of Reliance Industries' Jio telecoms unit, in Ahmedabad
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)

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