Reliance Industries: The deal places Jio Platforms at an equity value of Rs 4.91 lakh crore
Reliance Industries shares soared almost 4 per cent on the BSE after the US-based Vista Equity Partners decided to invest Rs 11,367 crore in Jio Platforms, the telecom subsidiary of Reliance Industries. This is the third high profile-investment in Reliance Jio in the past one month after the stake purchase by Facebook and Silver Lake. The shares of Reliance Industries ended the day at Rs 1,561, higher by 54 or 3.6 per cent, on the BSE.
The shares had opened at Rs 1,550 and touched an intra-day high of Rs 1579 and a low of Rs 1,537.
The Reliance Jio-Vista Equity Partners deal will value Jio Platforms, which houses Reliance Industries's telecoms arm Reliance Jio Infocomm, at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore.
Jio Platforms has now raised Rs 60,596.37 crore from leading technology investors in less than three weeks, Reliance Industries said.
Reliance Jio, the fast-growing telecom carrier controlled by billionaire Mukesh Ambani, began operations in late 2016. It provides telecom and digital services under brand Jio, and provides a connectivity platform to more than 38.8 crore subscribers.
Vista is a leading global investment firm focused on investing in cutting edge tech companies in their early stage.
The BSE Sensex ended the session with gains of 199 points and the NSE Nifty added 52 points.
