India markets closed

KKR To Invests Rs. 11367 Crore In Jio Platforms For 2.32% Equity Stake

Roshni Agarwal

The US private equity (PE) company KKR will buy a 2.32% equity stake in Jio Platforms for Rs. 11, 367 crore.

This is the biggest investment by global private equity major in Asia and consequent to the deal Jio Platforms' equity value is pegged at Rs. 4.9 lakh crore whereas its enterprise value is of Rs 5.16 lakh crore.

In a span of one month, global technology companies including Facebook, Silver Lake, Vista, General Atlantic and KKR have invested an aggregate sum of Rs. 78,562 crore into Jio.

"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. KKR shares our ambitious goal of building a premier Digital Society in India. KKR has a proven track record of being a valuable partner to industry-leading franchises and has been committed to India for many years. We are looking forward to leveraging KKR's global platform, industry knowledge and operational expertise to further grow Jio", said Mukesh Ambani, Chairman and Managing Director of Reliance Industries.

Henry Kravis, Co-Founder and Co-CEO of KKR, said, "Few companies have the potential to transform a country's digital ecosystem in the way that Jio Platforms is doing in India, and potentially worldwide. Jio Platforms is a true homegrown next generation technology leader in India that is unmatched in its ability to deliver technology solutions and services to a country that is experiencing a digital revolution. We are investing behind Jio Platforms' impressive momentum, world-class innovation and strong leadership team, and we view this landmark investment as a strong indicator of KKR's commitment to supporting leading technology companies in India and Asia Pacific."

GoodReturns.in

Also Read:

Reliance Industries-Rights Entitlement (RE) Shares Jump 9% For 2nd Day

2 Ways To Apply For RIL Rights Issue Between 20 May To 3 June Online

General Atlantic Picks A Stake In Jio Platforms