homevideos Newsfinance NewsVista Equity Partners buys 2.32% stake in Jio Platforms; here's what it means according to experts
Vista Equity Partners buys 2.32% stake in Jio Platforms; here's what it means according to experts
This is Vista's first India investment and the third high-profile investment in Jio Platforms in less than a month, following investments by Facebook and Silver Lake Partners. As a result, Jio Platforms has now raised over Rs 60,000 crore in less than three weeks.
US based private equity firm Vista Equity Partners has picked up a 2.32 percent stake in Jio Platforms for more than Rs 11,300 crore.
This is Vista's first India investment and the third high-profile investment in Jio Platforms in less than a month, following investments by Facebook and Silver Lake Partners. As a result, Jio Platforms has now raised over Rs 60,000 crore in less than three weeks.
The Vista deal has been struck at a 12.5 percent premium over the Facebook deal and pegs Jio Platforms' equity value at Rs 4.91 lakh crores.
Its enterprise value is pegged at Rs 5.16 lakh crore. This makes Jio Platforms the fourth largest Indian company in terms of market cap after Reliance Industries, TCS and HDFC Bank.
The deal with Vista will see RIL's net debt fall 75 percent. As of last year, the company's net debt stood at Rs 1.61 lakh crore. Counting the latest investment, Reliance has now raised Rs 1.2 lakh crore.
Shereen Bhan spoke to Vani Kola, founder & MD of Kalaari Capital, to discuss about implications of the deal and the road ahead for Jio Platforms.
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