Based Vista Equity Partners to invest Rs 11367 crore in Reliance Jio

US Saudi companies set eyes on buying stakes in Reliance's Jio says Bloomberg report

US Saudi companies set eyes on buying stakes in Reliance's Jio says Bloomberg report

With the latest deal, Jio Platforms is set to net a combined Rs 60,596 crore, which comprises mainly its telecom business under Reliance Jio Infocomm, which is the largest in the country with over 388 million subscribers. While the Facebook deal spoke about the possibilities of expanding Reliance's retail service, Jiomart, the deal with Vista Equity Partners only contained broad hints of how the two could partner.

RIL also said that Jio Platforms has now raised Rs 60, 596.37 crores from leading technology investors in less than three weeks.

India's Reliance Industries Ltd said on Friday private equity firm Vista Equity Partners would invest 113.67 billion rupees ($1.5 billion) in its digital business unit for a 2.32% stake, in a boost to the conglomerate's effort to pare debt.

The Vista investment pegs Jio Platforms' equity valuation at Rs 4.91 lakh crore and enterprise valuation at Rs 5.16 lakh crore, Reliance announced in a statement. Jio's valuation, when compared with listed companies, makes it the fourth most valued in India after HDFC Bank, TCS and RIL and ties it with consumer products major HUL. Jio says it wants to ensure that no individual is deprived of the "tremendous" new opportunities, employment, and businesses arising out of India's 360-degree digital transformation.

Barack Obama Labels Donald Trump's COVID-19 Response A "Chaotic Disaster"
Obama's comments came Friday night while privately talking to ex-members of his administration. Biden leads in several battleground states.

On April 22, Reliance Industries share price rose over 8.33% to Rs 1339 against previous close of Rs 1,236 after social media giant Facebook announced buying minority stake in the Mukesh Ambani-owned telco Reliance Jio for $5.7 billion (Rs 43,574 crore). "These deals will help RIL reposition itself as a consumer/technology company", said Axis, retaining its buy rating on RIL, with a target price of Rs 1,780 a share. And analysts expect more deals in Jio in the near future.Bloomberg reported that Saudi Arabia's $320-billion sovereign wealth fund is exploring a potential investment in Jio.

Vista is a global investment firm focused on growing enterprise software, data, and technology-enabled companies that are catalysts of change.

Founded in 2000 by American businessman and investor Robert F. Smith and Brian Sheth, it has almost two decades of expertise in the field and is anchored by a sizable long-term capital base. Though Jio will be Vista's maiden investment in India, its portfolio companies have a significant presence in the country with over 13,000 employees. The Vista transaction and the other two deals-Facebook and Silver Lake-are yet to receive regulatory and other customary approvals.

"Mukesh's [Ambani] vision alongside Jio's world-class leadership team have built a platform to scale and advance the data revolution it started".

Recommended News

  • Italian woman returns home after 18-month African kidnapping

    Italian woman returns home after 18-month African kidnapping

    In her home neighbourhood in Milan, church bells saluted her arrival, with many people on their balconies, SKY TG24 showed. No group claimed responsibility for the kidnapping, which brought fears of an upsurge in attacks by militant Islamists.
    26-year-old surfer killed in California shark attack

    26-year-old surfer killed in California shark attack

    Following state protocol, the beach will be closed one mile north and south of the attack site for five days, reopening Thursday. There have been at least two other fatal shark attacks along the Northern California coast since 1984, both involving divers.
    U.S. Vice-President Pence self-isolates after aide diagnosed with COVID-19

    U.S. Vice-President Pence self-isolates after aide diagnosed with COVID-19

    Pence's isolation comes after three members of President Trump's coronavirus task force, including Dr. Trump said he would increase the frequency of his weekly testings to daily ones.
  • Pandemic Conspiracy Video Removed From Facebook, YouTube

    Pandemic Conspiracy Video Removed From Facebook, YouTube

    Meanwhile, Twitter said it was blocking the hashtags #PlagueOfCorruption and #Plandemicmovie from its search and trends. One of her claims in the video is that putting on face masks can trigger the the killer virus within people.

    Tips To Manage Your Mental Health During the Coronavirus Epidemic

    All of this is taking its toll on people s mental health, particularly those already living with conditions like anxiety and OCD. Whilst it is important to keep up to date, too much upsetting media coverage is likely increase worry and agitation.
    Rainbow Six Siege 'The Grand Larceny' gang event now live

    Rainbow Six Siege 'The Grand Larceny' gang event now live

    In this cracking 5-vs. -5 inspired by the British mob of the 1920s, gunshots ring through the hallways of the Headquarters. Beginning today until May 19, this limited time event mode brings an all-new game mode.
  • Childhood vaccinations plunge since Covid-19 pandemic started, CDC says

    Childhood vaccinations plunge since Covid-19 pandemic started, CDC says

    Unvaccinated or under-vaccinated children will be at risk of other infectious diseases besides coronavirus, the CDC cautioned. VSD data show a corresponding decline in measles-containing vaccine administrations beginning the week of March 16, 2020.
    Turkey warns Libya's Haftar of military escalation

    Turkey warns Libya's Haftar of military escalation

    Russia, the UAE and Egypt have supported Haftar, who enjoys the support of a rival government based in Tobruk. GNA troops now surround the LNA's main rear base at Tarhouna, 80km (50 miles) southeast of the capital.
    We Have a New Slogan

    We Have a New Slogan

    The devolved governments in Scotland, Wales and Northern Ireland have already extended the lockdown for another three weeks. In her turn, Northern Ireland's First Minister Arlene Foster said that it was right to stick with the original slogan.
  • Germany sees rising coronavirus infection rate, lockdown protests days after easing restrictions

    Germany sees rising coronavirus infection rate, lockdown protests days after easing restrictions

    Reiter also said he found it "absolutely unbearable" that the protests had a heavy presence from known far-right groups. Coronavirus infections are rising in Germany just days after the country eased its COVID-19 lockdown restrictions.
    Lowest number of new COVID-19 cases reported in Ontario since March

    Lowest number of new COVID-19 cases reported in Ontario since March

    The Province of Ontario confirms there are 63 more COVID-19 related deaths, as new cases rise to 477, as of Friday morning. Over the course of the pandemic, about 12.5 cases of the coronavirus reported in Ontario have been hospitalized.
    Tesla secures $565m loan for Shanghai plant

    Tesla secures $565m loan for Shanghai plant

    The region around Wuhan, where the virus is believed to have originated, is home to much of China auto production. It is not clear why Tesla halted its operations at the plant that's generally operated six days a week.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.