US Private Equity Firm KKR To Buy 2.3% Stake In Jio Platforms For Rs 11,367 Crore
- This transaction values Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore, Reliance Industries said in a statement released early on Friday.
- This is KKR's largest investment in Asia and will translate into a 2.32 per cent equity stake in Jio Platforms on a fully diluted basis, said the conglomerate led by billionaire Mukesh Ambani company said in a statement.
- “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," said Reliance Industries chairman and managing director Mukesh Ambani.
- KKR, founded in 1976, has invested more than $30 billion in tech companies, including China's ByteDance and Indonesian digital payments firm GoJek.
- On April 22, Facebook had picked up a 9.99 per cent stake in Jio Platforms on for Rs 43,574 crore.Â
- Within days, Silver Lake - the world's largest tech investor - had bought a 1.15 per cent stake in Jio Platforms for Rs 5,665.75 crore.Â
- On May 8, US-based Vista Equity Partners bought 2.32 per cent stake in Jio Platforms for Rs 11,367 crore.
- And on May 17, global equity firm General Atlantic picked up 1.34 per cent stake in Jio Platforms for Rs 6,598.38 crore.
- Jio Platforms, a wholly-owned subsidiary of Reliance Industries provides digital services across India, with more than 388 million subscribers.
- Founded in 1976, KKR has a long history of building leading global enterprises and successfully investing in businesses in the technology sector, including BMC Software, ByteDance and GoJek, through its private equity and technology growth funds.
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