/RIL gets its seventh cheque for Jio Platforms, again from Silver Lake Partners

RIL gets its seventh cheque for Jio Platforms, again from Silver Lake Partners

Mumbai: Mukesh Ambani-led Reliance Industries said late on Friday it has received a seventh investment in its Jio Platforms in the last six weeks, this time again from US private equity firm Silver Lake Partners.

Silver lake and its co-investors will invest an additional Rs 4,546.80 crore in Jio Platforms, in addition to the Rs 5,655.75 crore of investment by Silver Lake announced on May 4. This brings the aggregate investment by Silver Lake and its co-investors to Rs 10,202.55 crore.

Silver Lake’s investment values Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore, and will translate into a 2.08 per cent equity stake in Jio Platforms on a fully-diluted basis.

With this investment, Jio Platforms has raised Rs 92,202.15 crore from leading technology investors in less than six weeks.

Earlier in the day, Abu Dhabi-based sovereign investor Mubadala Investment Company said it will invest Rs 9,093.60 crore for a 1.85 per cent equity stake in Jio Platforms.

Mukesh Ambani-led RIL is India’s most-valued company, with a market capitalization of more than Rs 10 lakh crore.

For the year to date, the stock is up 4.4 per cent, outperforming benchmark Sensex which has dropped 17 per cent in the same period. The stock hit a record high of Rs 1,617.70 earlier on Friday.

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