Reliance Industries on Friday announced the sale of a 2.32 percent stake in its digital platform unit to US private equity giant KKR for Rs 11,367 crore. This is the fifth deal in four weeks that will inject a combined Rs 78,562 crore in the oil-to-telecom conglomerate to help it pare debt.
Previously Facebook purchased a deal of 9.99% of stake in reliance platform earlier on April 22 for Rs 43,574 crore.
After Few days Silver Lake – the world’s largest tech investor – bought a 1.15 per cent stake in Jio Platforms for Rs 5,665.75 crore.
US-based Vista Equity Partners bought 2.32 per cent stake in Jio Platforms for Rs 11,367 crore on May 8th.
On May 17 global equity firm General Atlantic picked up 1.34 per cent stake in Jio Platforms for Rs 6,598.38 crore.
By signing with Facebook, Silver Lake, Vista, General Atlantic, and KKR, Reliance raised funds of Rs 78,562 crore into Jio Platforms.
Founded in 1976, KKR has a long history of building leading global enterprises and successfully investing in businesses in the technology sector, including BMC Software, ByteDance, and GoJek, through its private equity and technology growth funds. KKR invested over USD 30 billion (total enterprise value) in tech companies, and its technology portfolio currently has more than 20 companies across the technology, media and telecom sectors.
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.Mukesh Ambani, Chairman and Managing Director of Reliance Industries
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 homegrown 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.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 Asia Pacific,Henry Kravis, Co-Founder and Co-CEO of KKR