US Based equity firm Vista Equity Partners has announced that it will buy 2.32% in billionaire Mukesh Ambani digital unit, Jio Platforms for Rs. 11.367 crore, the company announced on Friday.

"This investment estimates Jio platforms with an equity value of Rs 4.91 lakh crore and the enterprise value of 5.16 lakh crore," the company said in a statement.

Vista's investments will translate into a 2.32% equity stake on a fully diluted basis, making Vista the largest investor in the Jio platforms behind Reliance Industries and Facebook.

Facebook bought a 9.99% stake in Jio Platforms, the company that hosts India's youngest but largest telecom firm, for Rs. 43.574 crore. Silver Lake, the world's largest technology investor, buying a 1.15% stake in Jio Platforms for 5,665.75 crore.

"So far, Jio platforms have raised Rs. 60,596.37 crore from major technology investors in less than three weeks," the statement said.

Jio Platforms, a wholly-owned subsidiary of Reliance Industries, is a next-generation technology company that combines leading Jio digital applications, digital ecosystems, and a high-speed communication platform under one umbrella.

Reliance Jio Infocomm Limited, which provides connectivity platform to over 388 million subscribers, will remain a wholly-owned subsidiary of Jio Platforms.

Vista is a leading global investment firm focused on empowering enterprise, data, and technology software companies that reinvent industries and catalyzing change. It has more than $ 57 billion in cumulative capital commitments and its global network of companies collectively represents the world's fifth-largest business software company.

Currently, Vista portfolio companies have a significant presence in India with over 13,000 employees.

“I am delighted to welcome Vista, one of the world's largest technology investors as a valuable partner. As with our other partners, Vista shares the same vision with us to continue to grow and transform the Indian digital ecosystem in favor of Mukesh Ambani,” RIL’s Chairman and Managing Director Mukesh Ambani said.

Ambani also said, "We are excited to leverage from the professional expertise and multi-level support Vista offers to its investments worldwide for the benefit of Jio."

Source: The Hindu, ET Telecom,

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