Private equity firm Silver Lake to invest Rs 5,655.75 crore in Reliance Jio Platforms

US private equity 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, a deal which came less than two weeks after Facebook’s investment announcement into the unit of Reliance IndustriesNSE -1.08 % and will further help the Indian oil-to-telecom conglomerate reduce debt.

“Reliance Industries Limited and Jio Platforms Limited announced today that Silver Lake will invest Rs 5,655.75 crore into Jio Platforms. 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% premium to the equity valuation of the Facebook investment announced on April 22, 2020,” RIL and Jio in a joint statement said Monday.