Private equity firm Silver Lake has invested an additional Rs 4,546.80 crore in Reliance Industries’ digital arm Jio Platforms to raise its stake in the firm to 2.08 per cent.
Reliance Industries in a statement said with this, aggregate investment by Silver Lake in Jio Platforms will be Rs 10,202.55 crore. Silver Lake on May 4 had invested Rs 5,655.75 crore in Jio Platforms for a 1.15 per cent stake. With this investment, Jio Platforms has raised Rs 92,202.15 crore from leading global technology and growth investors including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR and Mubadala in less than six weeks.
Commenting on the investment, Egon Durban, Silver Lake Co-CEO and Managing Partner, said, “We are excited to increase our exposure and bring more of our co-investors into this opportunity, further supporting Jio Platforms in its mission to bring the power of high-quality and affordable digital services to a mass consumer and small businesses population.”
“The investment momentum behind Jio validates a compelling business model and underscores our admiration for Mukesh Ambani, his team and their courageous vision in creating and building one of the world’s most remarkable technology companies.”