Reliance Industries late on Friday said US private equity fund Silver Lake and its co-investors will invest an additional Rs. 4,546.80 crores in the company’s digital unit Jio Platforms. The investment comes on top of the Rs. 5,656 crores Silver Lake committed to Jio Platforms earlier this month.
Silver Lake’s new investment gives Jio Platforms — which houses Reliance’s telecoms arm Jio Infocomm and its music and video streaming apps — an enterprise value of Rs. 5.16 lakh crores, Reliance said in a regulatory filing, and takes Silver Lake’s stake to 2.08 percent from just over 1 percent.
Reliance has now sold nearly 20 percent of Jio Platforms to investors, including Facebook, securing around $12 billion in less than six weeks.
The deal adds to a recent flurry of fund-raising activity by the oil-to-telecoms giant, controlled by India’s richest man Mukesh Ambani, including a $7 billion share sale, with