“This transaction values Jio Platforms at an equity value of Rs4.91 lakh crore and an enterprise value of Rs5.16 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,” RIL said in a release on Friday.
ET in its May 21 edition had reported about KKR's possible investment in Jio Platforms.
With the latest deal, Jio Platforms will get a combined Rs78,562 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.
The transaction is subject to regulatory and other customary approvals, the company said.
General Atlantic on May 18 said it will buy 1.34% stake in Jio Platforms for Rs6,598.38 crore, while Vista Equity Partners said on May 8 it will be picking up a 2.32% stake for Rs11,367 crore. Prior to that, US private equity firm Silver Lake said it will invest Rs5,655.75 crore in Jio Platforms for a 1.15% stake and on April 22, Facebook said it would invest $5.7 billion for a 9.99% stake.
“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,” RIL chairman Mukesh Ambani said in the statement. “We are looking forward to leveraging KKR’s global platform, industry knowledge and operational expertise to further grow Jio.”
KKR is making the investment from its Asia private equity and growth technology funds.
..
“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,” Henry Kravis, Co-Founder of KKR, said in the statement.
“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,” he added.
..
ET in its May 21 edition had reported about KKR's possible investment in Jio Platforms.
With the latest deal, Jio Platforms will get a combined Rs78,562 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.
The transaction is subject to regulatory and other customary approvals, the company said.
General Atlantic on May 18 said it will buy 1.34% stake in Jio Platforms for Rs6,598.38 crore, while Vista Equity Partners said on May 8 it will be picking up a 2.32% stake for Rs11,367 crore. Prior to that, US private equity firm Silver Lake said it will invest Rs5,655.75 crore in Jio Platforms for a 1.15% stake and on April 22, Facebook said it would invest $5.7 billion for a 9.99% stake.
“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,” RIL chairman Mukesh Ambani said in the statement. “We are looking forward to leveraging KKR’s global platform, industry knowledge and operational expertise to further grow Jio.”
KKR is making the investment from its Asia private equity and growth technology funds.
..
“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,” Henry Kravis, Co-Founder of KKR, said in the statement.
“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,” he added.
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