{"id":322959,"date":"2020-05-04T05:41:05","date_gmt":"2020-05-04T05:41:05","guid":{"rendered":"http:\/\/tehelka.com\/?p=322959"},"modified":"2020-05-04T05:41:05","modified_gmt":"2020-05-04T05:41:05","slug":"silver-lake-to-invest-rs-5655-75-crore-in-jio-platforms-says-reliance-industries","status":"publish","type":"post","link":"https:\/\/tehelka.com\/silver-lake-to-invest-rs-5655-75-crore-in-jio-platforms-says-reliance-industries\/","title":{"rendered":"Silver Lake to invest Rs 5,655.75 crore in Jio Platforms, says Reliance Industries"},"content":{"rendered":"

\"\"Reliance Industries Limited on Monday announced that private equity firm Silver Lake will invest Rs 5,655.75 crore in its digital arm, giving it a valuation of Rs 4.90 lakh crore.<\/span><\/p>\n

The fresh deal came days after Facebook announced an investment of Rs 43,574 crore to buy a 9.99 per cent stake in Jio Platforms, which is the digital services entity.<\/span><\/p>\n

\u201cReliance Industries Limited (\u201cReliance Industries\u201d) and Jio Platforms Limited (\u201cJio Platforms\u201d) 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,\u201d the statement said.<\/span><\/p>\n

Mukesh Ambani, Chairman and Managing Director, Reliance Industries Ltd, said, \u201cI am delighted to welcome Silver Lake as a valued partner in continuing to grow and transform the Indian digital ecosystem for the benefit of all Indians.\u201d<\/span><\/p>\n

\u201cSilver Lake has an outstanding record of being a valuable partner for leading technology companies globally. Silver Lake is one of the most respected voices in technology and finance. We are excited to leverage insights from their global technology relationships for the Indian Digital Society\u2019s transformation,\u201d Ambani added.<\/span><\/p>\n

Commenting on the investment, Egon Durban, Silver Lake Co-CEO and Managing Partner, said, \u201cJio Platforms is one of the world\u2019s most remarkable companies, led by an incredibly strong and entrepreneurial management team who are driving and actualizing a courageous vision\u2026.. The market potential they are addressing is enormous, and we are honored and pleased to have been invited to partner with Mukesh Ambani and the team at Reliance and Jio to help further the Jio mission.\u201d<\/span><\/p>\n

Reliance Jio Infocomm Limited, which provides connectivity platform to over 388 million subscribers, will continue to be a whollyowned subsidiary of Jio Platforms.<\/span><\/p>\n

\u201cIn the wake of the severe economic disruptions caused by the COVID-19 pandemic, globally and especially within India, this partnership with one of the most renowned tech-investors globally, Silver Lake, has special significance. Comprehensive digitisation will be a vital component of the revitalisation of the Indian economy,\u201d the statement said.<\/span><\/p>\n

\n","protected":false},"excerpt":{"rendered":"

Reliance Industries Limited on Monday announced that private equity firm Silver Lake will invest Rs 5,655.75 crore in its digital arm, giving it a valuation of Rs 4.90 lakh crore. The fresh deal came days after Facebook announced an investment of Rs 43,574 crore to buy a 9.99 per cent stake in Jio Platforms, which […]<\/p>\n","protected":false},"author":59,"featured_media":300032,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[167],"tags":[9655,13005],"_links":{"self":[{"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/posts\/322959"}],"collection":[{"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/users\/59"}],"replies":[{"embeddable":true,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/comments?post=322959"}],"version-history":[{"count":1,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/posts\/322959\/revisions"}],"predecessor-version":[{"id":322960,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/posts\/322959\/revisions\/322960"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/media\/300032"}],"wp:attachment":[{"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/media?parent=322959"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/categories?post=322959"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tehelka.com\/rest-api\/wp\/v2\/tags?post=322959"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}