Reliance Industries Ltd and Jio Platforms Ltd have declared today that Silver Lake will invest Rs 5,655.75 crore in Jio Platforms. This investment rates Jio Platforms with an equity value of Rs 4.90 lakh crore and an enterprise value of Rs 5.15 lakh crore and a premium of 12.5 per cent for the equity valuation of the Facebook investment declared on 22 April.
Jio Platforms, a wholly-owned subsidiary of Reliance Industries, is a next-generation technology company that is creating a digital society for India by putting together Jio’s leading digital applications, digital ecosystems and India’s # 1 high-speed broadband network under one umbrella. Reliance Jio Infocomm, which provides connectivity platforms to more than 388 million subscribers, will continue to be a wholly-owned subsidiary of Jio Platforms.
Jio’s vision is to allow digital India for 1.3 billion people and businesses across India, particularly small-scale traders, micro-businesses and farmers. Jio has brought about transformational changes in Indian digital infrastructure and has propelled India to become a global pioneer in technology and one of the world’s leading digital economies.
In the wake of the serious economic disruption caused by the Covid2019 pandemic, globally and particularly within India, this collaboration with one of the world’s most renowned tech investors, Silver Lake, has a special significance. Comprehensive digitization would be a critical component of the revitalisation of the Indian economy.
With approximately $40 billion in combined assets under management and dedicated capital and a special focus on the world’s leading technology and development prospects, Silver Lake is a global leader in large-scale development investment.
Its goal is to develop and expand large organizations by collaborating with world-class management teams. Its investments included Airbnb, Alibaba, Ant Financial, Alphabet’s Verily and Waymo, Dell Technologies, Twitter and a variety of other global technology leaders.
This investment by Silver Lake is further testament to the world-class digital infrastructure Jio has developed, powered by leading technologies such as broadband networking, smart devices, cloud and edge computing, big data analytics, artificial intelligence, Internet of Things, augmented and mixed reality and blockchain.
“I am pleased to welcome Silver Lake as a trusted collaborator for the continued growth and transformation of the Indian digital ecosystem for the good of all Indians. Silver Lake has an excellent record of being a trusted partner for the world’s leading technology companies. Silver Lake is one of the most widely regarded voices in technology and finance. We’re excited to leverage insights from their global technology partnerships to transform Indian digital society, “said Reliance Industries Ltd. Chairman and Managing Director Mukesh Ambani.
Silver Lake Co-CEO and managing partner Egon Durban said, “Jio Platforms is one of the most outstanding companies in the world, led by an extremely talented and ambitious management team that drives and executes a bold vision. They also brought exceptional technical skills to bear in taking the potential of low-cost digital technology to the mass consumer and the small business community. The market opportunity they are targeting is enormous, and we are honoured and pleased to have been invited to partner with Mukesh Ambani and the team at Reliance and Jio to help further the Jio project.”
