US Equity Giant KKR & Co. Invests Rs 11,367 Cr In Reliance Jio, Buys 2.32 Percent Stake

Private equity giant KKR & Co. Inc bought a 2.32 percent stake of the digital unit Reliance Jio. The firm will invest Rs 11,367 crore into Jio Platforms.

New Delhi: US private equity giant KKR & Co. Inc has bought 2.32 percent stake of the digital unit Reliance Jio. According to reports this means that the firm is investing over Rs 11,367 crore into Jio Platforms. For Reliance this is the fifth major deal which was struck in the past few days. KKR & Co is a US-based global investment firm that manages a wide range of assets energy, infrastructure,  real estate, private equity, etc. With 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. Mukesh Ambani, Chairman and Managing Director of Reliance Industrie 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." He also added, "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. We are looking forward to leveraging KKR's global platform, industry knowledge, and operational expertise to further grow Jio," Last month Facebook invested Rs 43,574 crore and private equity firm Silver Lake invested Rs 5,655.75 crore in Reliance Jio. Other investments include a 1.5 billion investment by US-based private equity Vista Equity Partners and General Atlantic bought a 1.34 percent stake for 6,600 crores in Jio Platforms. The aggregate of all these investments according to IANS comes around Rs 78,562 crore. (With Inputs from IANS and PTI)