Private equity firm KKR is set to invest Rs 11367 crore in Jio Platforms
for a 2.32% stake. This will be the fifth investment in the Reliance
IndustriesNSE -0.25 % Ltd (RIL) business in rapid succession, following
those by social media major Facebook, private equity funds Silver Lake,
Vista Equity Partners and General Atlantic. Analysts expect more such
deals to take place.
In KKR’s largest investment in Asia, the transaction values Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore. Jio Platforms had raised Rs 67,194.75 crore from leading technology investors including Facebook, Silver Lake Partners, Vista Equity Partners and General Atlantic as part of the plan to make RIL net debt-free before March 31, 2021.
Facebook said on April 22 it would invest $5.7 billion for a 9.99% stake.
US private equity firm Silver Lake said on May 4 it will invest Rs 5,655.75 crore in Jio Platforms for a 1.15% stake.
Vista Equity Partners said on May 8 it will be picking up a 2.32% stake for Rs 11,367 crore.
General Atlantic had said on May 18 it will buy 1.34% stake in Jio Platforms for Rs 6,598.38 crore.
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