Silver lake to invest 12.5% of what Facebook invested in Reliance Jio
New Delhi : A couple of days after Reliance Jio announced a Rs 43,574 crore deal with Facebook, the company on Monday notified that private equity firm Silver Lake will be investing Rs 5,655.75 crore into Jio Platforms for 1.15% stake. This investment values Jio Platforms at an equity value of ₹ 4.90 lakh crore and an enterprise value of ₹ 5.15 lakh crore.
The Silver Lake deal will be 12.5% of the total investment done by Facebook into Jio Platforms.
Silver Lake's other investments have included Airbnb, Alibaba, Ant Financial, Alphabet’s Verily and Waymo units, Dell Technologies, Twitter and numerous other global technology leaders.
RIL chairman and managing director Mukesh Ambani said Silver 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’s transformation," he said.
Silver Lake co-CEO and managing partner Egon Durban described Jio Platforms as one of the world’s most remarkable companies, led by an incredibly strong and entrepreneurial management team who are driving and actualizing a courageous vision. "They have brought extraordinary engineering capabilities to bear on bringing the power of low-cost digital services to a mass consumer and small businesses population. The market potential they are addressing is enormous," he said.