KKR, an American global investment firm, is about to buy a 2.32 percent stake in Jio Platforms Limited for Rs. 11,367 crores. This happens to be the fifth deal in Jio Platforms Limited in the last one month.
It is also KKR’s largest investment in India. KKR has this rich history of investing in various tech companies across the globe. The private equity firm has investments in some popular companies like ByteDance, BMC Software, etc
Till the date, KKR has invested over 30 Billion USD in various companies and the portfolio of the company already contains more than 20 companies all around the world.
Following the deal, Jio Platforms Limited now has an equity value of Rs. 4.91 lakh crores and an enterprise value of Rs. 5.16 lakh crore.
Firstly, Facebook bagged a 9.99 percent stake in Jio Platforms last month and following the Facebook deal then comes Silver Lake who bought a 1.15 percent stake for Rs. 5,665.75 crores. Another US-based company, Vista Equity Partner bought a 2.32 percent stake in Jio Platforms for RS. 11,367 crore and then came the General Atlantic deal which picked up 1.34 percent stake for Rs. 6598.39 crores. This is the fifth deal in Reliance Jio in the last four weeks alone.
All the five aforementioned investment values at Rs. 78,562 crores.
Chairman and Managing Director of Reliance Industries, 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.”
Following the deal, Co-founder and Co-CEO of KKR, Hnery Kravis 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.”