Though the country is in Lockdown due to COVID-19 but that has not stopped Reliance Jio to strike mega business deals. According to agency reports, Silver Lake – one of the world’s largest tech investors, has agreed to invest Rs 5,655.75 crore to buy a 1.15 per cent stake in Mukesh Ambani’s digital unit that houses India’s youngest but biggest telecom firm.
This new deal with Silver Lake comes days after Reliance Jio struck a mega FDI deal with Facebook worth Rs 43,574 crores.
The investment in Jio Platforms is at a 12.5 per cent premium to the Facebook deal and more such strategic and financial investments are likely to be made going ahead.
“Silver Lake will invest Rs 5,655.75 crore in Jio Platforms,” Reliance said in a statement. “This investment values Jio Platforms at an equity value of Rs 4.90 lakh crore and an enterprise value of Rs 5.15 lakh crore and represents a 12.5 per cent premium to the equity valuation of the Facebook investment announced on April 22, 2020.”