Private equity firm KKR is set to invest Rs 11367 crore in jio Platforms for a 2.32% stake. This will be the fifth investment in reliance Industries. facebook, private equity funds silver Lake, Vista Equity Partners, and General Atlantic already invested on jio platforms, and analysts predict more such deals in the coming days.
This is KKR's largest investment in Asia and this will translate into a 2.32% equity stake on a diluted basis. With this deal, jio Platforms will get a combined Rs78,562 crore from the five investments. The RIL unit comprises mostly its telecom business under reliance jio Infocomm, which is the largest in the country with more than 388 million subscribers.
RIL’s other wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW'>digital properties and investments such as jio cinema, jio Saavn, and Haaptik are housed in jio Platforms. Earlier, General Atlantic bought a 1.34% stake for 6598 Crores and facebook invested $5.7 Billion for a 9.99% stake. Vista equity partners invested for 11367 Crores at 2.32% stake. KKR is making the investment from its Asia private equity and growth technology funds. We are looking forward to leveraging KKR’s global platform, industry knowledge, and operational expertise to further grow jio said, mukesh Ambani.
