JIO Investment

Jio Platforms has found a third investor in three weeks. Reliance Industries' telecom and digital arm sold a 2.32% stake to private equity firm Vista Equity Partners for ₹11,367 crore, following investments from Facebook and Silver Lake Partners. Jio Platforms has netted around ₹61,000 crore from the three deals, most of which will likely be used to pare debt. Vista will become the third-largest stakeholder in Jio Platforms, after parent RIL and Facebook, when the deal concludes.