General Atlantic an American private equity firm to invest ₹6,600 crore in Reliance Jio Platforms for 1.34% stake in the telecom unit of Reliance Industries.
General Atlantic is the fourth firm in row, which is going to invest in Jio Platform in less than four weeks.
Previously Facebook agreed $5.7 billion for a 10% stake and then Silver Lake Partners and Vista Equity Partners announced that they are going to invest $2.25 in Reliance Jio.
As of now Reliance Jio has raised Rs 67,194.75 crore from four companies.
General Atlantic is an American private equity firm providing capital and strategic support for growth companies. GA is headquartered in New York.
General Atlantic had in the past helped fund Airbnb Inc. and Uber Technologies Inc.
Reliance Industries has a vision to become zero net debt company before March 2021. Now this deal by Reliance Jio will help Reliance Industries to reduce debt.