Reliance Jio’s 2.23% stake sale to Vista means its raised $7.95 billion in under three weeks
- Reliance Jio snags its third investment in two weeks worth $1.5 billion from Vista for a 2.32% stake.
- Reliance Industries, Jio's parent company, saw its share price rise by over 2% in early morning trade.
- Mukesh Ambani has now raised $7.95 billion for Reliance Industries telecom subsidiary in less than three weeks.
- Like Silver Lake, Vista is a leading global investment firm focused on investing in technology-enabled companies.
Jio has cumulatively raised $7.95 billion in the last month, which will go a long way in settling its debt while also making sure that it has enough funds to participate in the bid of 5G in India. US-based Vista will be the third-largest equity investor in Jio Platforms after Reliance Industries and Facebook. “We believe in the potential of the Digital Society that Jio is building for India,” said Vista Chairman and CEO, Robert F. Smith.
|Silver Lake||$750 million||1.15%|
Here’s what you need to know about Vista Equity Partners
Vista currently has investments in 26 companies, accounting to Crunch Base, having invested in nearly 53 odd organizations since its inception in August 2000. Most of then have been technology platforms focused on software development.
For instance, In 2016, it picked up Marketo for $1.79 billion and sold it to Abobe for $4.75 billion two years later — more than doubling on its initial investment.
Its most recent acquisition was Tripleseat, a web-based sales and event management solution, in March 2020. Prior to that, it bought a majority stake in Acquia in September 2019 for $1 billion.
Facebook’s investment in Reliance Jio boosts RIL share value by ₹50,000 crore
Both Silver Lake and Mukesh Ambani hope that Reliance Jio will replicate Alibaba's magic — and this time Zuckerberg will get a chunk
WhatsApp is the secret sauce in the deal between Facebook and Reliance Jio