Silver Lake Partners will invest again in Jio Platforms. This is the second investment by the private equity company. The company will buy a 0.93 percent stake in Jio Platforms for Rs 4,546.8 crore.
In less than 24 hours, Jio Platforms adds a total of Rs. 13,640.4 crore from two investment companies — Mubadala Investment Company and Silver Lake.
With this seventh investment, Reliance has now sold a combined 19.90 percent share in Jio Platforms and till now it has raised Rs. 92,202.15 crore. Silver Lake’s combined investment now amounts to Rs. 10,202.55 crore for a 2.08 percent stake in Jio Platforms, which houses Jio Infocomm’s video services, music services, and telecoms business.
Silver Lake is the largest tech investor in the world and has a terrific track record of investing in some of the world’s biggest and most successful tech companies, including Airbnb, Dell Technologies, Twitter, Verily, Alibaba, Waymo and more.
Last Month on May 4, Silver Lake spent Rs. 5,655.75 crore for 1.15 percent stake. In the last six weeks, Jio has secured seven big investments. Facebook led the series of investments, which on April 22 invested Rs. 43,574 crore to buy 9.99 percent stake. After that, General Atlantic, Silver Lake, Vista Equity Partners, KKR and Mubadala have been spending the money on Jio.
We are pleased to have their confidence and support, as well as the benefit of their leadership in global technology investing and their valued network of relationships, as we drive the Indian Digital Society’s transformation. I would like to emphasise that Silver Lake’s additional investment in Jio Platforms, within a span of five weeks during the COVID-19 pandemic, is a strong endorsement of the intrinsic resilience of the Indian economy, which will surely grow bigger with comprehensive digital enablement. Mukesh Ambani (Reliance Industries)
Egon Durban, Silver Lake ‘s Co-CEO and managing partner, said they were excited to increase exposure and bring more of their 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 customer and small business.
Follow Us on Instagram for awesome tech stuff. Also, Join our Telegram Group and connect directly with Admin.