Billionaire Mukesh Ambani owned petrochemical-to-telecom giant Reliance Industries (RIL) subsidiary Jio has received Rs 11367 crs in investment from KKR, its largest investment in Asia.
The global private equity firm will acquire 2.32% stake in Jio Platform, on a fully diluted basis, making it the fifth investment in rapid 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 Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore.
With the latest deal, Jio Platforms will get a combined Rs 78,562 crore from the five investments. The RIL unit comprises mostly its telecom business under Reliance Jio Infocomm, which is the largest in the country with more than 388 million subscribers.
RIL’s other digital properties and investments such as Jio Cinema, Jio Saavn and Haaptik are housed in Jio Platforms.
General Atlantic on May 18 earlier has purchased a 1.34% stake in Jio Platforms for Rs 6,598.38 crore, while Vista Equity Partners has on May 8 has picked up a 2.32% stake for Rs 11,367 crore. Prior to that, US private equity firm Silver Lake decided to invest Rs 5,655.75 crore in Jio Platforms for a 1.15% stake while earlier on April 22, Facebook decided to invest $5.7 billion for a 9.99% stake.
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