TIL Desk/Business/New Delhi/ Within days of Facebook’s Rs 43,574 crore deal, Silver Lake – one of the world’s largest tech investors, on Monday 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. 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.”
Facebook had bought a 9.99 per cent stake in Jio Platforms for USD 5.7 billion (Rs 43,574 crore) at an enterprise value of Rs 4.62 lakh crore. Strategic and financial investors are to form 20 per cent of Jio Platform, half of which was picked by Facebook. Silver Lake is one of the investors and more such investments are likely.
