Two weeks back, Facebook bagged a 9.99 percent stake in Jio for Rs. 43,574 crore. Now, a private equity firm, Silver Lake will invest Rs. 5,655.75 crore for a 1.15% stake in Jio PlatformsLimited.
After both the investments from Facebook and Silver Lake, the company currently has an equity value of Rs. 4.90 lakh crore and an enterprise value of Rs. 5.15 lakh crore.
Following the deal, a spokesperson of Silver Lake said, “They have brought extraordinary engineering capabilities to bear on bringing the power of low-cost digital services to a mass consumer and small business population. The market potential they are addressing is enormous, and we are honored and pleased to have been invited to partner with Mukesh Ambani and the team at Reliance and Jio to help further the Jio mission.
Silver Lake currently has some big investments in companies like Alibaba, Airbnb, Twitter, Ant Financial, Alphabet’s Verily and Waymo units, Dell Technologies, and many other tech companies.
After the deal, Mukesh Ambani said, “I am delighted to welcome Silver Lake as a valued partner in continuing to grow and transform the Indian digital ecosystem for the benefit of all Indians. Silver Lake has an outstanding record of being a valuable partner for leading technology companies globally. Silver Lake is one of the most respected voices in technology and finance. We are excited to leverage insights from their global technology relationships for the Indian Digital Society’s transformation.”
According to the co-CEO of Silver Lake, Egon Durban, Jio Platforms is one of the world’s most remarkable companies. led by an incredibly strong and entrepreneurial management team who are driving and actualizing a courageous vision.