RIL in spotlight as Vista to buy stake in Jio Platforms

Reliance Industries (RIL) and Jio Platforms announced today that Vista Equity Partners (Vista) will invest Rs 11,367 crore into Jio Platforms.

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. Vista's investment will translate into a 2.32% equity stake in Jio Platforms on a fully diluted basis, making Vista the largest investor in Jio Platforms behind RIL and Facebook. Jio Platforms has now raised Rs 60,596.37 crore from leading technology investors in less than three weeks.

The announcement was made before market hours today, 8 May 2020. Shares of RIL rose 3.12% to close at Rs 1,507.25 on 7 May 2020.

Jio Platforms, a wholly-owned subsidiary of RIL, 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 number 1 high speed connectivity platform under one umbrella. Reliance Jio Infocomm, which provides connectivity platform to over 388 million subscribers, will continue to be a wholly-owned subsidiary of Jio Platforms.

Mukesh Ambani, Chairman and Managing Director, RIL said, Vista shares with us the same vision of continuing to grow and transform the Indian digital ecosystem for the benefit of all Indians.

Vista is a leading global investment firm focused on empowering and growing enterprise software, data and technology enabled companies that are reinventing industries and catalyzing change.

RIL is India's largest private sector company. RIL's activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and digital services.

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