RIL trades 3% higher on Vista Equity deal; rallies 30% in one month

Jio Platforms has now raised Rs 60,596.37 crore from leading technology investors in less than three weeks.

Shares of Reliance Industries (RIL) opened 3 per cent higher at Rs 1,550 on the BSE on Friday, extending its Thursday’s 3 per cent gain after the company announced that US-based private equity firm Vista Equity will invest Rs 11,367 crore into Jio Platforms, a wholly-owned subsidiary of the company.

Vista’s investment will translate into a 2.32 per cent equity stake in Jio Platforms on a fully diluted basis, making Vista the largest investor in Jio Platforms, only behind Reliance Industries and Facebook. Jio Platforms has now raised Rs 60,596.37 crore from leading technology investors in less