TechGenyz
Author at TechGenyz Investing

After Facebook, Silver Lake invests Rs 5,656 cr in Jio Platforms for 1.15% stake

Leading global tech investor Silver Lake agreed to pay Rs 5,655.75 crore, to buy a 1.15 percent stake Jio platform. The firm that houses by billionaire Mukesh Ambani’s telecom.

However, this investment comes within days of Facebook investing USD 5.7 billion to buy a 9.99 percent stake in Jio Platforms. Also, the investment is at a premium of 12.5 percent to the Facebook deal.

“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 percent premium to the equity valuation of the Facebook investment announced on April 22, 2020,” Reliance said in a statement.

This US firm Silver Lake will invest Rs 5,655.75 crore in Jio Platforms for a 1.15% stake at an equity value of Rs 4.90 lakh crore.

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