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The fresh investment by Silver Lake and others values Jio Platforms at an enterprise value of Rs 5.16 lakh crore, Reliance Industries said in a statement released late on Friday.
With this investment, Jio Platform has raised Rs 92,202.15 crore from technology investors - including US-based Facebook, Vista Equity Partners and General Atlantic - within six weeks.
Reliance Industries had on May 4 announced an investment of Rs 5,655.75 crore by Silver Lake for a 1.15 per cent stake in Jio Platforms.
With additional capital infusion of Rs 4,546.80 crore, Silver Lake and its co-investors will own a total 2.08 per cent stake in Jio Platforms, according to Reliance Industries. The transaction is subject to regulatory and other customary approvals, the conglomerate added.
"I would like to emphasise that Silver Lake's additional investment in Jio Platforms, within a span of five weeks during the COVID-19 pandemic, is a strong endorsement of the intrinsic resilience of the Indian economy, which will surely grow bigger with comprehensive digital enablement," said Mukesh Ambani, chairman and managing director, Reliance Industries.
Earlier on Friday, Reliance Industries had announced that Abu Dhabi's Mubadala will take a 1.85 per cent equity stake in Jio Platforms for Rs 9,093.60 crore - the Abu Dhabi-based sovereign investor's largest investment in an Indian firm.
The deals will help Reliance Industries meet Mr Ambani's target of eliminating net debt by the end of the financial year.
Before the Silver Lake announcement, Reliance Industries shares closed flat at Rs 1,580.60 apiece on the BSE, having touched a record high during the session. The benchmark S&P BSE Sensex index rose 0.90 per cent, continuing its surge after a day's pause.
Abu Dhabi Investment Authority and Saudi Arabia's The Public Investment Fund are in discussions with Reliance Industries to invest in its digital arm, news agency Bloomberg reported this week citing people familiar with the matter.
Reliance Jio Infocomm - which started in 2016 - has already decimated several rivals with cut-throat pricing and is counting on Reliance Industries' retail network to expand into e-commerce. It provides telecom and digital services under brand Jio, and a connectivity platform to more than 38.8 crore subscribers.