Technology: After Facebook & Silver Lake’s massive investment in Jio Platforms, another private equity firm, Vista Equity Partners has entered into a deal of Rs11,367 crore with Jio Platforms for a 2.32% stake.

“For Jio Platforms, this investment values at an equity value of ₹4.91 lakh crore and an enterprise value of ₹5.16 lakh crore,” Reliance Industries said in a statement on Friday.

The Founder, Chairman and CEO of Vista,

Robert F. Smith commented on the investment saying, “We believe in the potential of the Digital Society that Jio is building for India. Mukesh’s vision as a global pioneer, alongside Jio’s world-class leadership team, have built a platform to scale and advance the data revolution it started. We are thrilled to join Jio Platforms to deliver exponential growth in connectivity across India, providing modern consumer, small business and enterprises software to fuel the future of one of the world’s fastest growing digital economies.”

With this investment from Vista equity, Jio Platforms is set to net a combined ₹60,596 crore for the unit of Reliance Industries which comprises mainly its telecom business under Reliance Jio Infocomm, which is the largest in the country with over 388 million subscribers.

Vista will become the largest investor in Jio Platforms after RIL and Facebook. Facebook

owns 9.99% stake worth $5.7 billion while Silver Lake’s investment is worth ₹5,655.75 crore ($747 million) for a 1.15% stake in Jio Platforms.

Vista has more than $57 billion in cumulative capital commitments and its global network of companies collectively represent the 5th largest enterprise software company in the world. Currently, Vista portfolio companies have a significant presence in India with over 13,000 employees.

Morgan Stanley acted as financial advisor to Reliance Industries for the completion of the deal.