Reliance Industries Limited (RIL) and Jio Platforms Limited, India’s leading digital services platform, announced today that KKR will invest ₹ 11,367 crore into Jio Platforms. This transaction values Jio Platforms at an equity value of ₹ 4.91 lakh crore and an enterprise value of ₹ 5.16 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. Over the last month, leading technology investors, such as, Facebook, Silver Lake, Vista, General Atlantic and KKR have announced aggregate investments of ₹ 78,562 crore into Jio Platforms.
Jio Platforms, a wholly-owned subsidiary of Reliance Industries, is a next-generation technology platform focused on providing high-quality and affordable digital services across India, with more than 388 million subscribers.
The deal follows Facebook picking up a 9.99 per cent stake in the firm, housing India's youngest but largest telecom company, on April 22 for ₹43,574 crore.
Within days of that deal, Silver Lake - the world's largest tech investor - bought a 1.15 per cent stake in Jio Platforms for ₹5,665.75 crore.
On May 8, US-based Vista Equity Partners bought 2.32 per cent stake in Jio Platforms for ₹11,367 crore. On May 17 global equity firm General Atlantic picked up 1.34 per cent stake in Jio Platforms for ₹6,598.38 crore.
Jio Platforms has made significant investments across its digital ecosystem powered by leading technologies spanning broadband connectivity, smart devices, cloud and edge computing, big data analytics, artificial intelligence, Internet of Things, augmented and mixed reality and blockchain.