Reliance Industries Limited and Jio Platforms Limited announced today that Silver Lake would invest Rs 5,655.75 crore into Jio Platforms.
The Silver Lake deal values Jio Platforms at an equity value of Rs 4.90 lakh crore and an enterprise value of Rs 5.15 lakh crore.
Jio Platforms is a wholly-owned subsidiary of Reliance Industries Limited focussed on next-generation technologies. Reliance Jio Infocomm, which provides connectivity platform to over 388 million subscribers, will continue to be a wholly-owned subsidiary of Jio Platforms.
On April 22, social networking giant Facebook said it would acquire a 9.9% stake in Jio Platforms for Rs 43,574 crore.
Silver Lake shot into prominence after acquiring PC maker Dell Inc along with Michael Dell in 2013. It is a global leader in technology investing, with over $43 billion in combined assets under management and committed capital and a team of approximately 100 investment and operating professionals located around the world in Silicon Valley, New York, Hong Kong and London.
Morgan Stanley acted as financial advisor to Reliance Industries, and AZB & Partners and Davis Polk & Wardwell acted as legal counsels.