Private equity firm Silver Lake will invest $750 million or Rs 5,655.75 crore in Reliance Jio Platforms, the Indian company said on Monday.
The deal would come less than two weeks after Facebook Inc said it would pay $5.7 billion for a nearly 10% stake in Jio.
Reliance Industries said in a regulatory filing on Monday that this investment values Jio Platforms at an equity value of Rs 4.90 lakh crore.
The enterprise value will be of Rs 5.15 lakh crore and represents a 12.5% premium to the equity valuation of the Facebook investment announced on April 22, 2020, it 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,” Mukesh Ambani, Reliance Industries Ltd’s chairperson and managing director said.
“We are excited to leverage insights from their global technology relationships for the Indian Digital Society’s transformation,” Ambani added.