After Facebook, US-based Vista invests big in Jio

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Ritika Pathak

, Finance, Special

Vista’s deal will be the third major investment in Jio platforms in three weeks.

Vista Equity Partners will acquire 2.32% stake in Jio for ₹11,367 crore. The company that is valued at an equity value of ₹4.91 lakh crore has received its third investment in three weeks. This made Vista the third largest investor in Jio Platforms behind Reliance Industries and Facebook, which acquired 10% share in the Indian giant last month.

The deal comes weeks after Reliance Industries made a ₹43,574-crore investment deal with Facebook for a 9.99 per cent stake in Jio and just days after Silver Lake, a private equity firm invested ₹5,656-crore in the company.

A statement by Reliance Indian Limited reads, “Jio Platforms, a wholly-owned subsidiary of Reliance Industries Limited, is a next-generation technology company building a Digital Society for India by bringing together Jio’s leading digital apps, digital ecosystems and India’s high speed connectivity platform under one umbrella has now raised ₹60,596.37 crore from leading technology investors in less than three weeks.”

Mukesh Ambani, the chairman and managing director of Reliance Industries, seemed extremely delighted to share the transaction news. He welcomed Vista to the Jio family as an internationally valued partner. He also was excited to share the investment news by quipping that the professional expertise of Vista will be of extreme importance in the future growth of Reliance Jio, which is the largest network connectivity platform in India with over 388 million users.

Talking about Vista, it is an American private equity and venture capital firm focused on empowering and growing enterprise in companies from various fields such as software, data, and technology. After the deal announcement there has been a big hike in Reliance’s shares on BSE. With back to back investments, Jio is set for something big in the vibrant Indian market.

 

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