Four days after Reliance Jio struck a deal with Silver Laker Partners, it has earned fresh investments from another US-based tech-focused private equity fund. Vista Equity Partners has acquired 2.32 percent stake in Jio Platforms for an estimated $1.5 billion (Rs 11,367 crore), becoming the third largest shareholder in the company after Reliance and Facebook.
Sanchit Vir Gogia, Founder and CEO, Greyhound Research, a tech advisory firm, says, “Jio’s intent here is clearly three-fold: debt reduction and overall profitability; equity dilution at tech valuations; and sentiment uptick with global names. Jio Platforms should, in theory, get listed sooner than later – and that should dramatically change valuations.”
P.S.: To read a research report on the investments in Jio Platforms, click here.
Sanchit Vir Gogia: Sanchit is the Chief Analyst, Founder & CEO of Greyhound Research, a Global, Award-Winning, Technology & Innovation Research & Advisory firm. To read more about him, click here.
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