Jio Strikes Fifth Global Investment Partner – KRK to Invest in Reliance Jio

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Jio Strikes Fifth Global Investment Partner – KRK to Invest in Reliance Jio

Jio Strikes Fifth Global Investment Partner - KRK to Invest in Reliance Jio

Image Source: News 18

Jio Strikes Fifth Global Investment Partner – KRK to Invest in Reliance Jio. Reliance Industries Limited (RIL) on Friday announced that private equity firm KKR will invest Rs 11,367 crore in Jio Platforms for a 2.32 percent stake. This will be the fifth investment in RIL in succession, following those by social media major Facebook, private equity funds Silver Lake, Vista Equity Partners, and General Atlantic.

“This transaction values Jio Platforms at an equity value of Rs4.91 lakh crore and an enterprise value of Rs5.16 lakh crore. 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,” RIL said in a release on Friday.

Chairman and Managing Director Mukesh Ambani in a statement on Friday said, “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.”

KKR & Co. Inc. is an American global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate, credit, and, through its strategic partners, hedge funds.

News Source: News 18

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