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RIL gains 4% after Vista Equity’s investment in Jio Platforms: Know more about the deal

RIL gains 4% after Vista Equity’s investment in Jio Platforms: Know more about the deal

RIL gains 4% after Vista Equity’s investment in Jio Platforms: Know more about the deal
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By Ankit Gohel  May 8, 2020 11:31:02 AM IST (Published)

Shares of Reliance Industries (RIL) gained over 4 percent in the early trade on Friday after it announced that US-based private equity firm Vista Equity Partners will buy a 2.32 percent stake in Jio Platforms for Rs 11,367 crore.

Shares of Reliance Industries (RIL) gained over 4 percent in the early trade on Friday after it announced that US-based private equity firm Vista Equity Partners will buy a 2.32 percent stake in Jio Platforms for Rs 11,367 crore.

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The stock rose as much as 4.42 percent to hit intraday high of Rs 1,574 per share on the BSE. At 11:27 am, shares of RIL were trading 3.99 percent higher at Rs 1,567 per share.
Here are some key points you need to know about the deal:
The latest round of investment by Vista values Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore.
With its valuation, Jio Platforms has become the fourth largest company in India in terms of market cap after Reliance Industries, Tata Consultancy Services and HDFC Bank.
This is the third high profile investment in Jio Platform in less than a month. Facebook had announced an investment of Rs 43,574 crore ($5.7 billion) for a 9.99 percent stake in Jio Platforms on April 22. On May 4, private equity firm Silver Lake Partners announced of investing Rs 5,655.75 crore for 1.15 percent stake in Reliance Jio Platforms.
Vista is now the world’s largest tech-focused fund with more than $52 billion in capital commitments.
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