Mumbai, May 4 — Reliance Industries Limited and Jio Platforms Limited announced on Monday that US-based private equity firm Silver Lake will invest Rs. 5,655.75 crore into Jio Platforms.
This investment values Jio Platforms at an equity value of Rs. 4.90 lakh crore and an enterprise value of Rs. 5.15 lakh crore and represents a 12.5% premium to the equity valuation of the Facebook investment announced on April 22, 2020.Reliance Jio Infocomm Limited, which provides connectivity platform to over 388 million subscribers, will continue to be a whollyowned subsidiary of Jio Platforms.Jio’s vision is to enable a Digital India for 1.3 billion people and businesses throughout India, especially small merchants, micro-businesses and farmers.”Comprehensive digitisation will be a vital component of the revitalisation of the Indian economy. It is our strong conviction that no one should be deprived of the tremendous new opportunities, including those for new employment and new businesses, embedded in India’s 360- degree digital transformation,” RIL said.With approximately $40 billion in combined assets under management and committed capital and a singular focus on the world’s great tech and tech-enabled opportunities, Silver Lake is the global leader in large-scale technology investing.Its mission is to build and grow great companies by partnering with world-class management teams. Its investments have included Airbnb, Alibaba, Ant Financial, Alphabet’s Verily and Waymo units, Dell Technologies, Twitter and numerous other global technology leaders.This investment by Silver Lake is further testament to the world-class digital platform that Jio has built, powered by leading technologies, such as Broadband connectivity, Smart Devices, Cloud and Edge Computing, Big Data Analytics, Artificial Intelligence, Internet of Things, Augmented and Mixed Reality and Blockchain.Egon Durban, Silver Lake Co-CEO and Managing Partner, said, “Jio Platforms is one of the world’s most remarkable companies, led by an incredibly strong and entrepreneurial management team who are driving and actualizing a courageous vision. They have brought extraordinary engineering capabilities to bear on bringing the power of low-cost digital services to a mass consumer and small businesses population. The market potential they are addressing is enormous, and we are honored and pleased to have been invited to partner with Mukesh Ambani and the team at Reliance and Jio to help further the Jio mission.”For any query with respect to this article or any other content requirement, please contact Editor at contentservices@htlive.com
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