(Image source from: Economictimes.indiatimes.com)
Silver Lake To Invest Rs 5655 Cr In Reliance Jio:- Silver Lake, the private equity firm based in USA will invest Rs 5655.75 crores in the platforms of Reliance Jio for a stake of 1.15% at an equity value of Rs 4.90 lakh crores. The deal came after less than two weeks after the investment of Facebook. This investment will further help the Reliance Industries to reduce the debt. "Reliance Industries Limited and Jio Platforms Limited announced today that Silver Lake will invest Rs 5,655.75 crore into Jio Platforms. This investment values Jio Platforms at an equity value of Rs 4.90 lakh crore and an enterprise value of Rs 5.15 lakh crore and represents a 12.5% premium to the equity valuation of the Facebook investment announced on April 22, 2020," said the official statement of Reliance Industries and Jio.
Reliance Jio is owned by Reliance Industries Limited and is focused on next-generation technologies. Reliance Jio has 388 million subscribers. Facebook acquired a stake of 9.9% in Jio after it invested Rs 43,574 crores. Mukesh Ambani said that Silver Lake is one of the most respected firms in technology and finance. He said that they are all excited to join hands for the transformation of Indian digital society. These recent partnerships will help Reliance get out of the financial crunch that took place because of the coronavirus pandemic.