Reliance Industries Ltd said on Monday private equity Tech Investor Giant Silver Lake invests Rs 5,656 crore in the Jio Platform to buy a 1.15 percent stake. After a $5.7 billion (Rs. 43,574 crores) investment from Facebook in Jio to boost its efforts to cut debt.

The investment is at a premium of 12.5 percent to the Facebook deal. “This investment values Jio Platforms at an equity value of Rs 4.90 lakh crore and an enterprise value of Rs 5.15 lakh crore and represents a 12.5 percent premium to the equity valuation of the Facebook investment announced on April 22, 2020,” Reliance said in a statement.

Silver Lake is a technology investor with approximately $40 billion in combined assets under management. Some of its major investments include Airbnb, Alibaba, Waymo units, Dell Technologies, and Twitter besides other global technology leaders. Now, This Tech Investor Giant Silver Lake Invests Rs 5,656 Crore In Jio Platform.