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Silver Lake to invest Rs 5655.75 cr into Jio Platforms

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Reliance Industries and Jio Platforms announced that 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 22 April 2020.

Jio Platforms, a wholly-owned subsidiary of Reliance Industries, 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 #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.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Mon, May 04 2020. 09:13 IST
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