KKR to invest Rs 11,367 crore in Jio for 2.32% stake

Reliance Industries has announced that global tech firm KKR will invest Rs 11,367 crore into Jio Platforms. 

 

This transaction values Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore. 

 

According to a statement, this is KKR’s largest investment in Asia and will translate into a 2.32 per cent equity stake in Jio Platforms on a fully diluted basis. 

 

Over the last month, Facebook, Silver Lake, Vista, General Atlantic and now KKR have announced aggregate investments of Rs 78,562 crore into Jio Platforms.

 

Founded in 1976, KKR has a history of building enterprises and investing in businesses in the technology sector, including BMC Software, ByteDance and GoJek through its private equity and technology growth funds. 

 

Mukesh Ambani, chairman and managing director, 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 the Indian digital ecosystem for the benefit of all Indians. KKR shares our ambitious goal of building a premier 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."

 

Henry Kravis, co-founder and co-CEO, KKR, 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 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.”

 

The transaction is subject to regulatory and other customary approvals.