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Silver Lake To Invest Rs 5655 Crores In Reliance Jio

Harsh Verma by Harsh Verma
in News & Updates
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After the successful deal between Reliance and Facebook, Jio has achieved another big accomplishment by receiving significant funding. US private equity company Silver Lake Partners has bought a 1.15 per cent stake in Reliance Industries’ Jio Platforms. Silver Lake will invest Rs 5,655.75 crore in Jio Platforms.

Jio

Reliance said in a statement, “Silver Lake will invest Rs 5,655.75 crore in Jio platforms. For this, the share value or the equity value of Jio platforms is estimated at Rs 4.90 lakh crore while the enterprise value is Rs 5.15 lakh crore.” Whereas, co-CEO of Silver Lake, praised that Jio Platforms is one of the most prominent companies in the world, run by a strong and entrepreneurial managerial team.

Read More :- Amazon Launches “Amazon Pay Later” Service In India

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This is the Reliance Jio platform’s second deal less than two weeks after the agreement with Facebook. Silver Lake is among the world’s leading companies that invest in IT companies across the globe. Prior to this, Silver Lake has also invested in Alibaba Group, Airbnb, Dell, and Twitter and has about $ 40 billion of combined assets under management. With this significant investment, the equity value of Jio has risen to 4.90 lakh crore, and enterprise value is 5.15 lakh crore. Moreover, this investment represents a 12.5% ​​premium to the equity value of investment made by Facebook.

Jio

Mukesh Ambani stated that this deal would help in the digitalization of India a lot. He further praised and said that Silver Lake’s record is outstanding and is a respected name in the world of tech and finance. At the moment, Reliance is very much excited about this deal. Reliance currently has a debt of Rs 1.61 lakh crore. Mukesh Ambani aims that his firm company Reliance become debt-free even before the scheduled date. For this, the company is making every effort to raise funds. For this, Reliance had recently announced the country’s largest rights issue, which is worth Rs 53,125 crore.

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