Private equity firm Silver Lake has now invested an additional INR 4546.80 crore in Reliance Industries digital arm, Jio Platforms, to secure its stake in the firm to 2.08 percent.
Reliance Industries in a statement revealed with this, aggregate investment y Silver Lake in Jio Platform will be INR 10202.55 crore.
Silver Lake, on the 4th of May, had invested INR 5655.75 crore in Jio Platforms for a 1.15 percent stake.
With this new investment, the Jio Platform has secured INR 92202.15 crore from leading global technology and growth investors, including the Silver Lake, Facebook, General Atlantic, KKR, and Mubadala in less than six weeks.
Commenting on the investment, Egon Durban, Silver Lake Co-CEO and Managing Partner, said, “We are excited to increase our exposure and bring more of our co-investors into this opportunity, further supporting Jio Platforms in its mission to bring the power of high-quality and affordable digital services to a mass consumer and small businesses population.”
“The investment momentum 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 world’s most remarkable technology companies.”