June 5, 2020 / 5:05 PM / a month ago

Reliance says Silver Lake, co-investors to invest $601 mln more in digital unit

NEW DELHI, June 5 (Reuters) - India’s Reliance Industries late on Friday said U.S. private equity fund Silver Lake and its co-investors will put in an additional 45.46 billion rupees ($601.40 million) in the company’s digital unit Jio Platforms.

That investment comes in addition to the 56.56 billion rupees which Silver Lake committed to Jio Platforms earlier this month.

Silver Lake’s new investment values Jio Platforms - the digital services entity that houses Reliance’s telecoms arm Jio Infocomm, its music and video streaming apps, at an enterprise value of 5.16 trillion rupees ($68.26 billion), Reliance said in a regulatory filing.

The investment also ups Silver Lake’s stake in Jio Platforms to 2.08% from the previous just over 1% stake. ($1 = 75.5900 Indian rupees) (Reporting by Sankalp Phartiyal,)

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