Silver Lake to invest ₹5,655 crore in RIL’s Jio Platforms

MUMBAI: US private equity firm Silver Lake will invest ₹5,655.75 crore in Jio Platforms, a wholly-owned subsidiary of Reliance Industries Limited (RIL), the company said on Monday.

The deal comes less than two weeks after Facebook Inc’s investment ₹$5.7 billion in Jio Platform for a 9.99% stake.

“This investment values Jio Platforms at an equity value of ₹4.90 lakh crore and an enterprise value of ₹5.15 lakh crore and represents a 12.5% premium to the equity valuation of the Facebook investment announced on April 22, 2020,” RIL said in a press statement.