Reliance Jio has been one of the fastest-growing companies in the world. The telco has a subscriber base of 388 million people. At the same time, Silver Lake is one of the most prominent global investors in large-scale technology. Now, the company will invest in Jio Platforms Limited as well. Silver Lake is investing Rs 5,655.75 crore into Jio Platforms. This will mark the equity value of Jio Platforms at Rs 4.90 lakh crore and an enterprise value of Rs 5.15 lakh crore. This comes after the investment Facebook made in the telco a few days back and shows the 12.5% premium on the valuation after Facebook’s investment.
Reliance Jio to Work With Silver Lake For Making a Digital India
To revitalise the India economy, it will be essential to introduce comprehensive digitisation all across the country. Reliance Jio working with Silver Lake believes that no one in the country should be a step behind in realising new opportunities to grow which are out there and that is why they want everyone to have an online presence. Silver Lake’s investment boosts the value of Jio as a brand even further. Some of the other companies that Silver Lake has invested in are - Dell Technologies, Twitter, Ant Financial, Alibaba, Airbnb, and numerous other tech companies in the world.
Both Reliance Jio and Silver Lake Excited to Grow Together
Mukesh Ambani addressing the deal with Silver Lake said that he is pleased with the partnership. He said that everyone knows how big Silver Lake is globally and by leveraging their insights on global technology, Reliance Jio will be able to make India completely digital. The Silver Lake, Co-CEO and Managing Partner, Mr Egon Durban commented on the investment as well. He said that Silver Lake is impressed with the kind of team that has been working inside Jio and how at such a low-cost they have been able to provide the benefit of technology to masses. He further said that Silver lake is ready to help Jio in its mission to make India completely digital.