Fourth major investment in Jio platforms in four weeks, General Atlantic bought stake

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  • General Atlantic has invested Rs 6,598.38 crore in RIL’s Reliance Jio Platforms.
  • This is the fourth major investment in Jio platforms in four weeks.
  • It is also General Atlantic’s largest investment in Asia.

After Facebook, Silver Lake and Vista Equity, General Atlantic has now invested Rs 6,598.38 crore in RIL’s Reliance Jio Platforms. This is the fourth major investment in Jio platforms in four weeks. It is also General Atlantic’s largest investment in Asia. The investment is equivalent to 1.34 per cent stake in RIL.

This investment is equivalent to Rs 4.91 lakh crore equity value of Jio platforms and enterprise value 5.16 lakh crore. Prior to this, General Atlantic has also invested in Uber Technology.
In this regard, Reliance Chairman Mukesh Ambani said that I welcome General Atlantic. I have known this for many decades. General Atlantic shared its vision of a digital society for India and believed in the transformative power of digitization in enriching the lives of 1.3 billion Indians.

Reliance said that the investment by leading global development investors will help Jio enable its ecosystem to build a digital society in India. This strengthens the technical capabilities of Jio and the capabilities of the business model in and beyond the corona virus. It is known that in four weeks after this deal, Jio Platforms has raised Rs 67,194.75 crore.

In this regard, Reliance said that the investment by leading global development investors will help Jio to enable its ecosystem to build a digital society in India. This strengthens the technical capabilities of Jio and the capabilities of the business model in and beyond the corona virus. It is known that in four weeks after this deal, Jio Platforms has raised Rs 67,194.75 crore.

Vista Equity Partners previously invested
Earlier private equity firm Vista Equity Partners had said to invest Rs 11,367 crore in Reliance Jio Platforms with a 2.32 per cent stake. In this context, Reliance said that the investment has been made with Jio Platforms with equity value of 4.91 lakh crore and enterprise value of 5.16 lakh crore.

About this, Mukesh Ambani, Chairman and Managing Director of Reliance Industries said, ‘I happily welcome Vista. It is a valued associate and one of the global technology investors. Like our other investors, Vista also shares the vision to continuously enhance and transform our Indian digital infrastructure that will benefit all Indians. ‘

Deals were also done between Jio and Facebook
On 22 April 2020, social media giant American company Facebook had signed a $ 5.7 billion (Rs 43,574 crore) investment in Mukesh Ambani-led Reliance Industries group company Jio Platforms Ltd to buy a 9.99 per cent stake. The deal between Facebook and Jio is being called the largest foreign investment in India’s technology sector so far. After this investment, Jio has become one of the 5 largest listed companies in India.

Reliance will help in reducing debt. It is known that this deal will help  Reliance Industries Group to reduce its debt burden and will strengthen Facebook’s position in India. For this, India is currently the largest market in terms of user base. RIL has signed the deal with Facebook as part of efforts to reduce its debt.

Jio-silver lake
On 4 May 2020, Silver Lake Company announced an investment of Rs 5655.75 crore in Jio Platforms. Silver Lake will get approximately 1.15% equity in return for this investment. The equity value of Jio Platforms in Silver Lake’s investment is estimated at 4.90 lakh crore. This is 12.5 percent more than Facebook’s value.

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