Fresh infusion: Jio Platforms gets $750 million from PE firm Silver Lake

The Rs 5,655 crore ($750 million) investment by US private equity investor Silver Lake for a 1.15% stake in Jio Platforms will help Reliance Industries (RIL) pare its net debt, currently at 1.6 lakh crore. It also puts Jio Platforms in the elite company of Airbnb, Alibaba, Ant Financial, Alphabet’s Verily and Waymo units, Dell Technologies, Twitter- all businesses backed by the global tech investor giant. This association is expected to boost the quality and technological capabilities of Jio Platforms.

Together with the $5.8 billion infusion by Facebook, announced on April 21, the equity inflow into Jio Platforms is now $6.4 billion. The Silver Lake infusion values it at an equity value of Rs 4.90 lakh crore, a 12.5% premium to valuation of Rs 4.62 lakh crore post the Facebook investment.