Reliance Industries tops India’s most visible corporate in media ranking
Reliance is followed by State Bank of India, HDFC Bank, ICICI Bank, and Bharti Airtel followed in the top-5 list.
Reliance Industries Ltd on Friday announced Rs 11,367 crore stake sale in its technology arm, a third high profile investment in less than three weeks that has led Jio to raise total Rs 60,596.37 crore.
US-based private equity firm Vista Equity Partners is going to buy a 2.32 per cent stake in billionaire Mukesh Ambani’s Jio Platforms, for Rs 11,367 crore, the Mumbai-headquartered company said in a statement.
“This investment values Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore,” Reliance said in a statement.
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Vista”s investment will translate into a 2.32 per cent equity stake on a fully diluted basis, making Vista the largest investor in Jio Platforms behind Reliance Industries and Facebook.
Facebook had bought 9.99 per cent stake in Jio Platforms – the firm that houses India”s youngest but biggest telecom firm, for Rs 43,574 crore. That deal was followed by Silver Lake – the world”s largest tech investor – buying 1.15 per cent stake in Jio Platforms for Rs 5,665.75 crore.
Commenting on the deal with Vista, Mukesh Ambani, Chairman and Managing Director of Reliance Industries Ltd, said, “I am delighted to welcome Vista, one of the world”s marquee tech investors globally as a valued partner. Like our other partners, Vista also shares with us the same vision of continuing to grow and transform the Indian digital ecosystem for the benefit of all Indians.”
“We are excited to leverage the professional expertise and multi-level support that Vista has been offering to its investments globally for the benefit of Jio,” he added.
Vista is a leading global investment firm focused on empowering enterprise software, data and technology enabled companies that are reinventing industries and catalyzing change. It has more than USD 57 billion in cumulative capital commitments and its global network of companies collectively represent the 5th largest enterprise software company in the world.
Currently, Vista portfolio companies have a significant presence in India with over 13,000 employees.
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