Vista Equity Partners Acquire 2.32% stake in Jio for $1.5 billion
New Delhi, May 8, 2020: US-based private equity firm Vista Equity Partners will buy a 2.32 percent stake in billionaire Mukesh Ambani's digital unit, Jio Platforms, for $1.5 billion (Rs 11,367 crore), the company announced today.
'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,' the company said in a statement.
Vista's investment will translate into a 2.32 per cent equity stake on a fully diluted basis, making Vista the largest investor in Jio Platforms behind Reliance Industries and Facebook.
Facebook had bought 9.99 per cent stake in Jio Platforms - the firm that houses India's youngest but biggest telecom firm, for Rs 43,574 crore. That deal was followed by Silver Lake - the world's largest tech invest...