Jio gets new marquee investor: Vista Equity to buy 2.32% for Rs 11,367 crore

Vista Equity Partners, a US-based private equity firm that runs the world’s largest exclusively tech-focused fund, will pick up a 2.32 percent stake in Jio Platforms for Rs 11,367 crore, making it the third high-profile investment in the Reliance Industries Ltd (RIL) unit in as many weeks and underlining its status as a next-generation software and platform company.This investment values Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore. Vista’s investment, which makes the largest investor in Jio Platforms behind RIL and Facebook, is at a 12.5 percent premium over the deal with the social media network announced in April.Jio Platforms has now raised Rs 60,596.37 crore from leading technology investors in less than three weeks, RIL said in a statement on May 8.Close Vista has a track record of investing in cutting edge tech companies in their early stage. Each of its investments has been profitable in its history of 10 years. This is the PE giant’s first sizeable investment in India. related news Sebi eases compliance norms for brokers, depository participants Freight records highest loading for the fiscal with 109.68 MT in November: Indian Railways Honeywell partners with IISc to… Read full this story

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