Reliance Jio raises more money, now gets Rs 11,367 crore from KKR; total stake sale reaches this much

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Updated: May 22, 2020 8:25:37 AM

Following the investments from Facebook, Silver Lake, Vista Equity and General Atlantic, the investment from KKR will be the fifth investment in Reliance Industries

Reliance jio, RIL, Mukesh AmbaniThis 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 has got yet another marquee investor to invest in Jio Platforms taking the total equity stake sale in its telecom-cum-digital services venture to over Rs 78,000 crore. Mukesh Ambani’s RIL announced that US private equity firm KKR will invest Rs 11,367 crore in Jio Platforms for a 2.32 per cent stake. Following the investments from Facebook, Silver Lake, Vista Equity and General Atlantic, this will be the fifth investment in Reliance Industries. 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, the company said in a statement. Over the last month, the aggregate investments by the leading technology investors in Jio Platforms amounts to Rs 78,562 crore.

“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,” said Mukesh Ambani, Chairman and Managing Director, Reliance Industries. “We are looking forward to leveraging KKR’s global platform, industry knowledge and operational expertise to further grow Jio,” Ambani added. Jio Platforms currently has over 388 million subscribers.

General Atlantic on Sunday announced to invest Rs 6,98.38 crore for 1.34 per cent stake in Jio Platforms, while on May 8, Vista Equity Partners said to invest Rs 11,367 crore for 2.32 per cent stake. Earlier this month, Silver Lake announced that it will invest Rs 5,655.75 crore in Jio Platforms for a 1.15 per cent stake. Last month, Facebook said to invest Rs 43,574 crore for a 9.99 per cent stake. The total percentage of stake sale so far in Jio Platforms has reached to 17.12  per cent.

“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,” said Henry Kravis, Co-Founder and Co-CEO of KKR.

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