Reliance Industries share price rose in early trade today after PE firm Vista Equity Partners said it would invest Rs 11,367 crore into Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore. Share price of Reliance Industries gained 4.43% to Rs 1,574 compared to the previous close of Rs 1,507 on BSE. Reliance Industries stock gained 9.11% in the last four days.
The large cap stock opened with a gain of 2.84% at Rs 1,574 today. Share price of Reliance Industries is trading higher than its 5 day, 20 day, 50 day, 100 day and 200 day moving averages. On Nifty, the stock gained over 4% to Rs 1,574 compared to the previous close of Rs 1,506.
Total 7.99 lakh shares changed hands on BSE amounting to turnover of Rs 124.30 crore. Market cap of the firm rose to Rs 9.92 lakh crore on BSE.
RIL stock price has gained 7% in one week and 31.67% in one month. It has risen 3.67% since the beginning of this year. On March 23, the stock hit its 52-week low of Rs 875. Since then, it has gained 80% or Rs 699 on BSE.
PE firm Vista will acquire 2.32 per cent equity stake in Jio Platforms on a fully diluted basis. The deal will make Vista the largest investor in Jio Platforms after Reliance Industries and Facebook.
On May 2, Reliance Industries share price rose over 3% after brokerages maintained buy call on Silver Lake buying minority stake in Reliance Jio Platforms. Share price of Reliance Industries gained 3.02% intra day to Rs 1478.8 compared to the previous close of Rs 1,435 on BSE.
Global tech investor Silver Lake will invest Rs 5,655.75 crore in Reliance Industries Jio Platforms at an equity value of Rs 4.9 lakh crore and an enterprise value of Rs 5.15 lakh crore. RIL said it represents 12.5 per cent premium to the equity valuation of the Facebook investment announced on April 22.
On April 22, Reliance Industries share price rose over 8.33% to Rs 1339 against previous close of Rs 1,236 after social media giant Facebook announced buying minority stake in the Mukesh Ambani-owned telco Reliance Jio for $5.7 billion (Rs 43,574 crore). On Nifty too, Reliance Industries share price was the top gainer. The index heavyweight gained over 8% to Rs 1,339 on NSE.
Facebook said it would invest Rs 43,574 crore ($5.7 billion) investment in Mukesh Ambani-led Jio Platforms Limited. With the investment, Facebook will hold a 9.99 per cent stake in Jio Platforms and will be the largest minority shareholder.