Vista buys 2.3 % stake worth $1.5 billion in Reliance Jio

The Texas based Vista equity buys stake worth of 11,367 crores for a 2.32 % equity stake in Reliance Jio. It makes Vista third largest investor in Jio.

“Jio Platforms, a wholly owned subsidiary of Reliance Industries Limited, is a next-generation technology company building a Digital Society for India by bringing together Jio’s leading digital apps, digital ecosystems and India’s high-speed connectivity platform under one umbrella has now raised ₹60,596.37 crore from leading technology investors in less than three weeks,” said a RIL statement.

Jio which has over 388 million subscribers, will continue to be wholly owned subsidiary of all Jio platforms.

Jio also secured two other investments before Vista. First one is from Facebook which is worth about $5.7 billion (43,574 crores) and second one is from Silver Lake which is worth about $750 million (5,656 crores).

Major shareholders in Jio are Facebook with 9.99% stake, Vista with 2.32% stake, Silver Lake with 1.15% stake and Reliance Industries Limited with the maximum share of 86.54% is on top and own the company.

“I am delighted to welcome Vista, one of the world’s marquee tech investors globally as a valued partner. Like our other partners, Vista also shares with us the same vision of continuing to grow and transform the Indian digital ecosystem for the benefit of all Indians. They believe in the transformative power of technology to be the key to an even better future for everyone. In Robert and Brian, whose family hails from Gujarat, I found two outstanding global technology leaders who believe in India and the transformative potential of a Digital Indian Society. We are excited to leverage the professional expertise and multi-level support that Vista has been offering to its investments globally for the benefit of Jio.” said Mukesh Ambani, Chairman and Managing Director, RIL.

With this investment Jio has raised Rs. 60,569.37 crores from leading investors from the world in less than 3 weeks.

The news of the deal sent the RIL share price spurting by 3% to climb to day’s high of ₹1,550 so far in the session undergone today.