Silver Lake checks into Jio Platforms, snaps up 1.15% for over Rs 5,600 cr

Investment will help RIL pare debt, improve valuation

Reliance Jio Platforms (Jio Platforms), a subsidiary of Reliance Industries (RIL), is selling 1.15 per cent stake to private equity (PE) firm Silver Lake for Rs 5,655.75 crore.
 

The investment — the second in a fortnight - highlights its focus on new commerce business and will help it pare debt.
 

While the deal is smaller than the one with Facebook for 9.99 per cent stake, it comes at a 12.5 per cent premium.
 

The deal values Jio Platforms at Rs 4.90 trillion on equity basis and Rs 5.15 trillion on enterprise value basis, the company announced on Monday. The company