RIL shares soar on Vista Equity investment

MUMBAI: Shares of Reliance Industries (RIL) rose 4.4% after the company announced that it will sell a 2.3% stake in Jio Platforms to Vista Equity Partners for ₹11,367 crore, giving its subsidiary an equity valuation of ₹4.91 trillion. The enterprise value is pegged at ₹5.16 trillion.

At 1055am, the RIL stock traded at ₹1,567.95 up 4% from its previous close, while the benchmark index Sensex was up 1.6% at 31960.91 points.

At current levels, the stock is 2.8% away from its 52-week high of ₹1,617.80 registered hit on December 20, 2019.