It must be some kind of record. It's time for a pandemic. There is a lock everywhere. The economy in most countries is in free fall. And in this situation, the digital subsidiary of Reliance Industries, Jio Platforms, raised €12,2 billion in just under two months. One day, when the Abu Dhabi-based sovereign company Mubadala pledged to invest €1.2 billion in Jio platforms, it became apparent that Silver Lake and its co-investors will invest an additional €600 million (Rs 4.546,80 crore). in Jio Platforms, in addition to the nearly €750 million (Rs 5.655,75 crore) it invested on May 4, 2020. The Silver Lake investment values Jio Platforms at a net worth of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore, and will result in a 2.08% stake in Jio Platforms on a Fully Diluted Basis. Silver Lake is the world leader in large-scale technology investment. Their mission is to build and develop great businesses by partnering with world-class management teams. His investments have included Airbnb, Alibaba, Alpily's Verily and Waymo units, Dell Technologies, Twitter and many other global technology leaders.
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(Image credit: CNBC) With this investment, Jio Platforms raised €12,2 billion (Rs 92,202.15 crore) from top tech investors in less than six weeks, including Facebook, Silver Lake (previous investment), Vista, General Atlantic and KKR, Mubadala and now Silver Lake again, in less than six weeks. The market belief is that Reliance has targeted the increase from Rs 85,000 to Rs 90,000 crore in share sales in Jio Platforms. Jio Platforms, with more than 388 million subscribers, has made significant investments in its digital ecosystem, using cutting-edge technologies covering broadband connectivity, smart devices, cloud and advanced computing, big data analytics, artificial intelligence, Internet of Things things, augmented and mixed reality and blockchain.
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(Image credit: Mukesh Amabani)
Vote of confidence in Jio
Commenting on the overall Silver Lake investment, Mukesh Ambani, Chairman and CEO of Reliance Industries Ltd, said: “Silver Lake and its co-investors are valued partners as we continue to grow and transform the Indian digital ecosystem for the benefit of all Indians. We are pleased to have their trust and support, as well as the benefit of their leadership in global technology investment and their valuable network of relationships, as we lead the transformation of the Indian Digital Society. He Added: "I would like to point out that Silver Lake's further investment in Jio platforms, within five weeks during the Covid-19 pandemic, is a strong endorsement of the intrinsic resilience of the Indian economy." , which will surely grow with full digital empowerment. Commenting on the investment, Egon Durban, co-CEO and Managing Partner of Silver Lake, said: "We are delighted to increase our exposure and engage more of our co-investors in this opportunity, further supporting Jio Platforms in its mission to bring power. Affordable, high-quality digital services for a mass consumer of consumers and small businesses." "The investment drive 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 most notable technology companies in the world," he said. he added in a press release. While Jio is breaking new ground, its Indian competitors Airtel and Vodafone-Idea are in trouble and are said to be in talks with Amazon and Google respectively to attract investment. (You can read all about Jio Platforms and its various investors in our full coverage here.)