Vista Equity Partners buys 2.32% stake in Jio for ₹11,367 crore

Date posted: Tuesday 26 May 2020

Vista Equity Partners agreed to invest ₹11,367 crore in a Reliance Industries Ltd (RIL) unit, the Indian company’s third mega stake sale in as many weeks, as chairman Mukesh Ambani raced to raise a total of ₹60,596 crore from three investors, including Facebook Inc. US-based Vista Equity Partners will get a 2.3% stake in Jio Platforms Ltd, Reliance’s digital unit. The investment proceeds will be used to redeem optionally convertible preference shares held by parent Reliance Industries, and achieve the company’s aim to wipe off its debt by March 2021.

(Live Mint)