New Delhi: US equity giant will invest Rs 11,367 crore in Jio Platforms, announced Reliance Industries Limited and Jio Platforms Limited on Friday.

This investment by KKR now values Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore.

This is by far KKR’s largest investment in Asia and will get the company an equity of 2.32% in Jio Platforms on a fully diluted basis.

Last month, leading technology investors such as Facebook, Vista, Silver Lake, KKR and General Atlantic have announced a cumulative investment of Rs 78,562 crore in Jio Platforms.

Jio Platforms in the past years have made significant investment in the digital ecosystem ranging from broadband connectivity, cloud and edge computing, smart devices, artificial intelligence, big data analytics, IoT, blockchain to augmented reality.

Jio’s vision is to enable a Digital India for 130 crore people and businesses across the country, including small and micro-businesses and farmers so that all of them can enjoy the perks of digital ecosystem.

Reliance Industries chairman and managing director Mukesh Ambani 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.”

“KKR shares our ambitious goal of building a premier Digital Society in India,” he added.

“KKR has a proven track record of being a valuable partner to industry-leading franchises and has been committed to India for many years,” he said.

We are looking forward to leveraging KKR’s global platform, industry knowledge and operational expertise to further grow Jio,” Ambani further added.

KKR co-founder and co-CEO Henry Kravis, said, “Few companies have the potential to transform a country’s digital ecosystem in the way that Jio Platforms is doing in India, and potentially worldwide.”

“Jio Platforms is a true home-grown next-generation technology leader in India that is unmatched in its ability to deliver technology solutions and services to a country that is experiencing a digital revolution,” he added.

“We are investing behind Jio Platforms’ impressive momentum, world-class innovation and strong leadership team, and we view this landmark investment as a strong indicator of KKR’s commitment to supporting leading technology companies in India and the Asia Pacific,” he further said

Leave a comment

Leave a comment