New Delhi, Business Desk. The seventh investment in six weeks has come in Reliance Industries Ltd’s Jio Platforms. Silver Lake and its co-investors will invest an additional Rs 4,546.80 crore in Jio Platforms. This investment is in addition to an investment of Rs 5,655.75 crore announced by Silver Lake on 4 May 2020. Thus, the total investment of Silver Lake and its co-investors in Jio Platforms will be Rs 10,202.55 crore. Silver Lake’s investment has valued Jio Platforms at Rs 4.91 lakh crore and enterprise value at Rs 5.16 lakh crore. With this investment, Silver Lake will buy a 2.08 percent stake in Jio Platforms.
With this fresh funding, Jio Platforms has raised Rs 92,202.15 crore from investors in the big tech sector in less than six weeks. In addition to the American private equity company Silver Lake, Mubadala, Facebook, Vista Equity Partners, General Atlantic and KKR have also invested in Jio Platforms. Silver Lake is considered the world’s largest tech investor company. Silver Lake has also invested in companies like Twitter, Alibaba, Alphabet’s Waymo etc. Silver Lake manages over 40 billion dollars of assets worldwide.
Also Read: Jio to Offer 1 Year of Free Disney+Hotstar VIP Subscription for Its Customers
Commenting on the overall investment made by Silver Lake, Mukesh Ambani, Chairman and Managing Director of Reliance Industries Limited said, “Silver Lake and its co-investors are valuable partners. I would like to emphasize that Silver Lake’s additional investment in Jio platforms within five weeks during the Kovid-19 epidemic symbolizes their confidence in the Indian economy. “
Facebook announced the purchase of 9.99 percent stake in Jio platform on April 22 for Rs 43,573.62 crore. After this, Silver Lake had announced to buy 1.15 percent stake for Rs 5,655.75 crore on 3 May. On May 8, Vista announced the purchase of 2.32 per cent stake in Jio Platforms for Rs 11,367 crore. After this, General Atlantic announced on May 17 to buy 1.34 percent stake for Rs 6,598.38 crore. After this, KKR announced on May 22 to buy 2.32 percent stake for Rs 11,367 crore. On Friday, June 5, Mubadala has announced to buy 1.85 per cent stake for Rs 9,093.60 crore. On the same day, Silver Lake has once again announced the purchase of an additional 0.93 per cent stake for Rs 4,546.80 crore.
