Vista Equity Partners deal to position Jio Platforms as a consumer, technology firm

The Rs 11,367-crore investment by private equity firm Vista Equity Partners in Jio Platforms, a wholly-owned subsidiary of Reliance Industries Ltd (RIL), will position the company as a consumer and technology firm.

“We also highlight that players like Vista and Silver Lake primarily invest in technology platforms and not in telecom companies, which will further reposition Jio Platforms (including Reliance Jio Infocomm) as a consumer/technology company,” Axis Capital said in a report.

Investment by Vista in Jio Platforms will be used for redemption of optionally convertible preference shares (OCPS) held by RIL (will go to RIL).