OdishaPlus Bureau
Total investments into Jio by Global Investors now stands at 78,562 Crore
Private equity firm KKR will invest rupees 11,367 crore into Jio Platforms owned by Reliance Industries Limited RIL. This transaction values Jio at an equity value of 4.91 lakh crore and an enterprise value of 5.16 lakh crore. This is KKR’s largest investment in Asia and will translate into a 2.32% equity stake in Jio Platforms on a fully diluted basis. Over the last month, leading technology investors, such as, Facebook, Silver Lake, Vista, General Atlantic and KKR have announced aggregate investments of 78,562 crore into Jio Platforms.
Mukesh Ambani, Chairman and Managing Director of Reliance Industries, said, “I am delighted to welcome KKR, one of the world’s most respected financial investors, as a valued partner.” KKR is making the investment from its Asia private equity and growth technology funds. The transaction is subject to regulatory and other customary approvals.
Henry Kravis, Co-Founder and Co-CEO of KKR, said, “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.”
Founded in 1976, KKR has has invested over $30 billion in various businesses in the technology sector, including BMC Software, ByteDance and GoJek through its private equity and technology growth funds. Today KKR’s technology portfolio has more than 20 companies across the Technology, Media and Telecom sectors. In addition, India has been a key strategic market for KKR with a history of investing in the country since 2006.
