News International KKR to acquire 2.32% stake in Reliance Jio for whooping investment of...

KKR to acquire 2.32% stake in Reliance Jio for whooping investment of ₹11,637 Crore

KKR a global investment firm based in New York is planning to invest nearly ₹11,367 Crore into all the Jio Platforms. According to Reliance Industries, it is the largest investment by any firm in Asia.

Reliance industry

“Reliance Industries Limited and Jio Platforms announced today that KKR will invest Rs 11,637 Crore into Jio Platforms. The transaction values Jio Platforms at an equity value of ₹4.91 Lakh Crore and an enterprise value of ₹5.16 Lakh Crore” said RIL

KKR is a leading Global Investment Firm that manages alternative asset classes, including private equity, energy infrastructure, real estate and credit, with strategic manager partnership that manage hedge funds.

ALSO READ: General Atlantic to invest ₹6,600 crore in Reliance Jio

The investment will translate to 2.32 % equity stake in Jio Platforms on fully diluted basis. KKR is making the investment from its Asia private equity and growth technology funds and the transaction is subject to regulatory and other customer approvals.

The deal comes after General Atlantic an American equity firm invested Rs 6,600 Crore in Reliance Industries. Previously Tech Giant Facebook acquired 10% stake for a whopping investment of $5.7 Billion, followed by Silver Lake and Vista Equity Partners who agreed to invest $2.25 Billion in Reliance Jio.

ALSO READ: After Facebook, Silver Lake to invest big in Reliance Jio

Mukesh Ambani the Chairman and Managing Director of Reliance Industries 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 India’s digital ecosystem for the benefit of all Indians. KKR shares our ambitious goal of building a premiere 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,”

KKR has a rich history of investing in tech companies. The firm has invested $30 Billion in tech companies. The firm has invested in more than 20 companies in technology, media and telecom sector. KKR investment include BMC software, Byte Dance and Gojek.

Sourav Chakraborty
Trying to walk on the path of hard work to attain Success!!! Writer and Co-founder of InfotOnline

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Must Read

Gigi Hadid & Zayn Malik welcomes a baby girl while PILLOWTALK crosses 1B views

English singer Zayn Malik and American model Gigi Hadid welcomes their first girl child into this world some couple of hours ago. And while...

Match 5, MI vs KKR : Jasprit Bumrah stunned by Pat Cummins smashing him for 4 sixes

Pat Cummins stunned one of the best bowlers currently in the world Jasprit Bumrah for 4 sixes in an over in the IPL match...

MSI Bravo 15 Ryzen 5 Hexa Core Launched in India

MSI, a well-known brand for gaming PCs has launched MSI Bravo 15 Ryzen 5 Hexa Core laptop...

Armaan Malik reveals that Indian Music Industry lacks ‘collaborative environment’

In his recent tweet, Indian singer and youth sensation Armaan Malik revealed one of the dark side of the Indian Music Industry. The singer...