KKR to invest Rs 11,367 crore into Jio Platforms: Reliance

BENGALURU: Jio Platforms has raised Rs 11,367 crore or $1.5 billion from US private equity firm KKR as the latest infusion will take the total capital raised by Mukesh Ambani’s telecom and digital services venture to about Rs 78,562 crore or $10.3 billion. The deal will give KKR, which has invested through its Asia and technology funds in the deal, a 2.32% stake.
The new investment follows the $5.7 billion cheque by US social media giant Facebook last month followed by investments by a slew of private equity firms - Silver Lake, Vista Equity Partners and General Atlantic.
The deal is KKR’s largest investment in Asia till now. Globally KKR has backed several technology companies like TikTok owner Bytedance and Indonesia’s bike hailing and commerce platform Go-Jek. In India, KKR has interestingly backed the Bharti Infratel, the telecom infrastructure arm of Jio’s rival Bharti Airtel. Besides, its India bets include EuroKids and Ramky Enviro Engineers.
"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," said Reliance chairman and MD Mukesh Ambani.