New Delhi: New Delhi: Foreign investors are making a beeline for Reliance’s Jio Platforms as they seek to tap India’s fast-growing digital market. After Facebook, KKR & Co, Silver Lake, Vista Equity Partners and General Atlantic, now Microsoft is looking to invest $2 billion in billionaire Mukesh Ambani’s Jio Platforms, reports said.
Jio Platforms combines all of Reliance’s digital and telecom initiatives, including Jio digital services, apps, tech capabilities (artificial intelligence, Big Data, Internet of Things, etc) and other investments such as in Den Networks, Hathway Cable and Datacom Ltd.
As per reports, Microsoft is interested in buying more than 2.5% stake in Jio Platforms.
Jio Platforms has already attracted investments worth $10 billion in just a month from several investors.
In February this year, Microsoft’s chief executive Satya Nadella said the company has forged a partnership with Reliance Jio. As part of the deal, Reliance Jio plans to set up data centres across the country and use Microsoft Azure’s cloud services for enterprise clients.
The most recent investment by KKR was declared on May 22. The buyout firm consented to pay Rs 11,367 crore for a 2.32% stake in Jio Platforms. This would be KKR’s single-largest investment in Asia up until now. The arrangements have brought Jio Platforms a valuation of around Rs 4.91 trillion.
In April, the declaration by Facebook stated that it would invest $5.7 billion for a 9.99% stake in Jio was immediately trailed by $750 million from Silver Lake and $1.5 billion from Vista Equity Partners. On May 17, Jio Platforms said it was raising $870 million from General Atlantic.