Silver Lake invests an additional Rs 4,546-cr in Jio Platforms, raises stake in Reliance Industries' digital arm to 2.08 percent

The deal adds to a pile of funds raised by Jio in recent months and comes close on the heels of Abu Dhabi sovereign fund Mubadala Investment Company injecting Rs 9,093.6 crore on 4 June. Private equity firm Silver Lake has invested an additional Rs 4,546.80 crore in Jio Platforms to raise its stake in the Reliance Industries’ digital arm to 2.08 percent. Silver Lake’s investment values Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore, and will translate into a 2.08 percent equity stake in the digital assets company, RIL said in a statement on 5 June. I would like to emphasise that Silver Lake’s additional investment in Jio Platforms, within a span of five weeks during the COVID-19 pandemic, is a strong endorsement of the intrinsic resilience of the Indian economy, which will surely grow bigger with comprehensive digital enablement.” Egon Durban, Silver Lake Co-CEO and managing partner, said they were excited to increase the exposure and bring more of their co-investors into this opportunity, further supporting Jio Platforms in its mission to bring the power of high-quality and affordable digital services to a mass consumer and small businesses population. “The investment momentum behind Jio validates a compelling business model and underscores our admiration for Mukesh Ambani, his team and their courageous vision in creating and building one of the world’s most remarkable technology companies.” Silver Lake is the world’s largest tech investor and has a terrific track record of investing in some of the largest and successful tech companies globally such as Twitter, Airbnb, Alibaba, Dell Technologies, ANT Financials, Twitter, Alphabet’s Waymo and Verily, among others.