iWorld
Report on Shemaroo

Silver Lake and co-investors to invest additional Rs 4,546.80 crore in Jio Platforms

Defying Covid2019 crisis, Jio raised Rs 92,202.15 crore from tech investors in six weeks

https://www.indiantelevision.com/sites/default/files/styles/smartcrop_800x800/public/images/tv-images/2020/06/06/jio-Silver%20Lake.jpg?itok=z2dWG4kL

Mumbai: Reliance Industries Limited and Jio Platforms Ltd has announced that Silver Lake and its co-investors will invest an additional Rs 4,546.80 crore in Jio Platforms, in addition to the Rs 5,655.75 crore of investment by Silver Lake announced on May 4, 2020. This brings the aggregate investment by Silver Lake and its co-investors to Rs 10,202.55 crore. Silver Lake’s investment values Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore, and will translate into a 2.08 per cent equity stake in Jio Platforms on a fully diluted basis. With this investment, Jio Platforms has raised Rs 92,202.15 crore from leading technology investors in less than six weeks.

Jio Platforms, a wholly-owned subsidiary of Reliance Industries, is a next-generation technology platform focused on providing high-quality and affordable digital services across India, with more than 388 million subscribers. Jio Platforms has made significant investments across its digital ecosystem, powered by leading technologies spanning broadband connectivity, smart devices, cloud and edge computing, big data analytics, artificial intelligence, Internet of Things, augmented and mixed reality and blockchain. Jio’s vision is to enable a Digital India for 1.3 billion people and businesses across the country, including small merchants, micro-businesses and farmers so that all of them can enjoy the fruits of inclusive growth.

With approximately $40 billion in combined assets under management and committed capital and a singular focus on the world’s great tech and tech-enabled opportunities, Silver Lake is the global leader in large-scale technology investing. Its mission is to build and grow great companies by partnering with world-class management teams. Its investments have included Airbnb, Alibaba, Alphabet’s Verily and Waymo units, Dell Technologies, Twitter and numerous other global technology leaders.

Reliance Industries Ltd chairman and managing director Mukesh Ambani said, “Silver Lake and its co-investors are valued partners as we continue to grow and transform the Indian digital ecosystem for the benefit of all Indians. We are pleased to have their confidence and support, as well as the benefit of their leadership in global technology investing and their valued network of relationships, as we drive the Indian digital society’s transformation. I would like to emphasise that Silver Lake’s additional investment in Jio Platforms, within a span of five weeks during the Covid2019 pandemic, is a strong endorsement of the intrinsic resilience of the Indian economy, which will surely grow bigger with comprehensive digital enablement.”

Silver Lake co-CEO and managing partner Egon Durban said, “We are excited to increase our exposure and bring more of our co-investors into this opportunity, further supporting Jio Platforms in its mission to bring the power of high-quality and affordable digital services to a mass consumer and small businesses population. The investment momentum behind Jio validates a compelling business model and underscores our admiration for Mukesh Ambani, his team and their courageous vision in creating and building one of the world’s most remarkable technology companies.”

The transaction is subject to regulatory and other customary approvals.

Morgan Stanley acted as financial advisor to Reliance Industries and AZB & Partners and Davis Polk & Wardwell acted as legal counsels. Latham & Watkins LLP, Shardul Amarchand Mangaldas & Co and Simpson Thacher & Bartlett LLP acted as legal counsel to Silver Lake.

Latest Reads

https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/02/25/sid.jpg?itok=OnY1auVn
MX Player ropes in Sidd Mantri as senior VP, Product

KOLKATA: Times Group’s premium OTT MX Player has roped in Sidd Mantri as senior VP – product. He will be responsible for driving a differentiated product strategy for all MX Player brand offerings across OTT video, music, games, and short form video platform MX TakaTak. As a part of this role, he...

iWorld Over The Top Services
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/02/24/disney.jpg?itok=_NDS7x46
Disney+Hotstar expected to end 2021 with over 50 million subscribers

KOLKATA: The growth of Disney+ has surpassed industry expectations globally and India has turned out to be the biggest contributor to its stellar performance. The streaming service is set to clock over $ 1.2 billion in revenue and 66 million paying subscribers in Asia Pacific (APAC) at the end of...

iWorld Over The Top Services
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/02/24/lionsgate.jpg?itok=A0iOhXyn
Lionsgate Play launches its first Indian original

KOLKATA: Premium global streaming platform Starz, which launched its Lionsgate Play direct-to-consumer OTT app to a strong response in India last year, is partnering with Lionsgate Television (LGTV) on its first Indian original series, a remake of LGTV’s critically-acclaimed, Golden Globe-nominated...

iWorld Over The Top Services
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/02/24/insta.jpg?itok=2TKG4-oO
Reels now available for Instagram Lite users

KOLKATA: Instagram has just announced an update for the new Instagram Lite app – people will now be able to view Reels within the app. India is the first country where the feature to view Reels will be available to people. 

iWorld Social Media
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/02/24/mob.jpg?itok=PDx3drKh
Netflix’s new feature enables auto download of recommended content

Along with content, user experience is taking centre stage gradually in the over-the-top (OTT) ecosystem. As users are now exposed to enormous content via a number of platforms, the OTT players are looking at introducing more features to make their experience better.

iWorld Over The Top Services
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/02/24/air.jpg?itok=G5HCgfPB
Airtel partners with Qualcomm for rapid 5G roll-out in India

Last month, Airtel successfully conducted 5G field trials in Hyderabad and announced that it would roll out 5G services in India in select cities by June 2021.  Now, the telco operator has partnered with Qualcomm Technologies for accelerating 5G services in India, the company stated in a regulatory...

iWorld Telecom
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/02/24/fb.jpg?itok=3FibWbhJ
Facebook to lift news blockade in Australia after deal with govt

Facebook said Tuesday it will lift a contentious ban on Australian news and pay local media companies for content, after a down to the wire deal on pending landmark legislation, the news media bargaining code.

iWorld Over The Top Services
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/02/23/img_23022021_180448_800_x_800_pixel.jpg?itok=WAZ3BUlQ
Disney+ launches Star streaming channel aimed at adults

MUMBAI: Disney+ has launched a new general entertainment service Star in Europe, Australia, New Zealand and Canada, giving the company a new streaming outlet for more adult-oriented programming. Disney+ with Star had also been launched in Singapore, the first market where Disney+ has launched with...

iWorld Over The Top Services
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/02/22/voot.jpg?itok=wuwe56yu
Voot launches interactivity for Colors fiction shows

KOLKATA: Viacom18’s advertising-led digital arm Voot has been at the forefront of creating the most diverse interactivity and engagement experiences for its users.  With many categories first concepts, the leading OTT layer has unleashed the power of fandom and bridged the gap between the fans and...

iWorld Over The Top Services

Sign up for our Newsletter

subscribe for latest stories

* indicates required