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America’s Private Equity Firm KKR To Buy 2.3% Stake In Jio Platforms For Rs 11,367 Crore

reliance-jio

Reliance Industries Limited (RIL) on Friday announced that KKR and co(Kohlberg Kravis Roberts & Co. L.P.) will invest Rs 11,367 crore in Jio Platforms and that is 2.3% of the total share. This will the fifth fundraising deal in a month for Reliance Industries’ subsidiary Jio Platforms, following after investments by Facebook, General Atlantic, Silverlake & Vista Equity Partners. As of now, the Jio Platform has an equity value of Rs 4.91 trillion and an enterprise value of Rs 5.16 lakh crore or 5.16 trillion rupees.

After the deal RIL Chairman Mukesh Ambani said: “I am delighted to welcome KKR, one of the world’s most respected financial investors, as a valued partner in our onward march to growing and transforming the Indian digital ecosystem for the benefit of all Indians”. He also stated “This is KKR’s largest investment in Asia and will translate into a 2.32 percent equity stake in Jio Platforms on a fully diluted basis”.

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KKR (full form -Kohlberg Kravis Roberts), Founded in 1976, has a long history of building leading global enterprises and successfully investing in businesses in the technology sector, including BMC Software, China’s tech giant and parent of TikTok ByteDance, and Indonesia’s leading payment solution “GoJek” through its private equity and technology growth funds.

After the investment made by foreign companies, Reliance industries ltd stocks have started growing. The lists of investments are:

April 22 – Facebook had bought 9.99 per cent stake in Jio Platforms for Rs 43,574 crore. 

The world’s largest tech investor, Silver Lake – had bought a 1.15 per cent stake in Jio Platforms for Rs 5,665.75 crore. 

May 8 – Vista Equity Partners bought 2.32 per cent stake in Jio Platforms for Rs 11,367 crore.

May 17 – General Atlantic picked up 1.34 per cent stake in Jio Platforms for Rs 6,598.38 crore.

KKR to invest Rs11,367 CR IN JIO PLATFORMS#JioTogether #WithLoveFromJio pic.twitter.com/PInNVLekEU

— Reliance Jio (@reliancejio) May 22, 2020

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