Shares of Reliance Industries on Friday jumped nearly 4 per cent at close of trade after the company announced that US-based private equity firm Vista Equity Partners will buy a 2.32 per cent stake in its digital unit, Jio Platforms for Rs 11,367 crore.
The heavyweight stock rose 3.62 per cent to close at Rs 1,561.80 on the BSE.
During the day, it jumped 4.80 per cent to Rs 1,579.70.
On the NSE, it gained 3.48 per cent to close at Rs 1,559.45.
The company's market valuation rose by Rs 34,612.02 crore to Rs 9,90,088.02 crore on the BSE.
Also Read
In traded volume terms, 14.32 lakh shares were traded on the BSE and about 3.85 crore units on the NSE during the day.
"This investment values Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore," the company said in a statement earlier in the day.
Vista's investment will translate into a 2.32 per cent equity stake on a fully diluted basis, making Vista the largest investor in Jio Platforms, behind Reliance Industries and Facebook.
Facebook had bought 9.99 per cent stake in Jio Platforms for Rs 43,574 crore. That deal was followed by Silver Lake - the world's largest tech investor - buying 1.15 per cent stake in Jio Platforms for Rs 5,665.75 crore.
"Jio Platforms has now raised Rs 60,596.37 crore from leading technology investors in less than three weeks," the statement said.
The wholly-owned subsidiary of Reliance Industries is a next-generation tech company that brings together Jio's leading digital apps, digital ecosystems and high speed connectivity platform under one umbrella.
Disclaimer: No Business Standard Journalist was involved in creation of this content
