Reliance Industries has had an outstanding year. One of the critical reasons for that is the profits made my Jio Platforms for the year ending March 31, 2020. RIL has reported a cash profit of Rs 71,446 crore ($9.4 billion) out of which net profit is Rs 44,324 crore ($5.9 billion). Reliance Jio has become one of the most valued companies in India after the investment from Facebook and now Vista is also biting into the stakes of the telco. As per an announcement from RIL and Jio Platforms Limited, Vista Equity Partners are going to invest Rs 11,367 crore into the Jio Platforms. In return, Vista will get a 2.32% stake in the company. This investment marks Jio Platforms equity value at Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore.
Reliance Jio’s Mission to Make India Completely Digital
Reliance Jio works with an aim for making India a digital society. It has already helped many Indians experience 4G internet at very low prices. Currently, Reliance Jio has over 388 million subscribers which is a big testament to how good the company is. The telco wants to help every Indian businessman, big or small, farmers, and the general population stay interconnected so that India’s economy can grow.
At the same time, Vista is one of the most prominent global investment firms which puts its money into software enterprises. Vista is considered the fifth largest enterprise software company in the world with more than $57 billion in cumulative capital commitments. The vision for Vista to invest in software enterprises is to make the world a better place to live. In India, companies which Vista has invested in employs over 13,000 Indians.
Vista to Become The Second Largest Investor in Jio Platforms
After Facebook, Vista will become the second-largest investor in Jio Platforms. Mukesh Ambani, Chairman and Managing Director, RIL, said that he is pleased about collaborating with Vista as both the companies share the same vision of growth. Robert F. Smith, Chairman and CEO of Vista, said that he believes in the impact that Reliance Jio can make in the lives of Indian people and that he is excited to be a part of making India a digital society.