Private equity firm Vista Equity Partners will invest Rs 11,367 crore in Jio Platforms for a 2.32% stake. In less than a month Reliance Industries got a new partner to cut its debt.PE Vista invests in JIO after Facebook and Silverlake.

According to the statement by RIL, the value of the deal for the digital unit is at Rs 4.91 lakh crore and an enterprise value of ₹5.16 lakh crore.

Robert F. Smith, Founder, Chairman, and CEO of Vista, said in a comment that “We are thrilled to join Jio Platforms to deliver exponential growth in connectivity across India. Also, providing modern consumer, small business, and enterprise software to fuel the future of one of the world`s fastest-growing digital economies.”

Mukesh Ambani, Chairman, and Managing Director of Reliance Industries Ltd, Commenting on the transaction said, “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.”

PE VISTA INVESTS IN JIO