Lawstreet Journal

KKR to Invest Rs.11,367 Crore in Jio Platforms for a Stake of 2.32%

Lawstreet Journal 24 May 2020 6:23pm

Image courtesy: Lawstreet Journal Business KKR to Invest Rs.11,367 Crore in Jio Platforms for a Stake of 2.32%

During May 2020, many prominent investors from the technology industry, such as Facebook, Silver Lake, Vista, General Atlantic, and the most recent, KKR have announced approximate investments of Rs 78,562 crore in Reliance Industries - Jio Platforms.

Reliance Industries on May 22, 2020 said KKR (formerly known as Kohlberg Kravis Roberts & Co. and KKR & Co. L.P.) has planned to invest Rs 11,367 crore for 2.32% stake in Jio Platforms. KKR 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.

This deal values Jio Platforms at an equity value of Rs 4.91 lakh crores and an enterprise value of Rs 5.16 lakh crores. This is the private equity firm’s largest investment in Asia and will turn out to be a 2.32% equity stake in Jio Platforms on a fully diluted basis.

Over the duration of May 2020 leading technology investors, such as, Facebook, Silver Lake, Vista, General Atlantic and KKR have stated that they will be investing an aggregate of Rs 78,562 crores into Jio Platforms.

The transactions come on account of Jio’s plans to be net debt-free before March 31, 2021.

Chairman and Managing Director of Reliance Industries, Mukesh Ambani, stated, “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… Continue Reading...

Tagged: Reliance Industries   Reliance Industries Limited   Reliance Industry  
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