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Private equity firm Vista Equity Partners is investing Rs. 11,367 crore for a 2.32% stake in Jio Platforms, a subsidiary of Reliance Industries.
This is the third investment Jio Platforms has picked up over the last few weeks, after the Facebook and Silver Lake deals.
AZB & Partners acted for Jio Platforms on this deal as well. The team was led by Partners Ashwath Rau and Nilanjana Singh, along with Amitabh Robin Singh, Kanika Mishra and Vyjayanthi Raghu.
Vista Equity Partners was represented by Shardul Amarchand Mangaldas, which had advised the previous two Jio Platforms investors.
The SAM team was led by Partners Raghubir Menon, Sakshi Mehra and Natashaa Shroff along with Principal Associate Deep Rekha and Senior Associate Srishti Maheshwari.
Vista will become the largest investor in Jio Platforms after RIL and Facebook, reported ET.
Facebook had invested Rs. 43,574 crore (USD 5.7 billion) into Jio Platforms for a 9.99% stake.
Prior to that, private equity firm Silver Lake had invested Rs. 5,656 crore ($746.74 million) in Jio Platforms.