KKR Investment in Jio

KKR investment in Jio: KKR invests 2.33% stake in Jio platform, investing Rs 11,367 Crores

Asia’s richest man Mukesh Ambani in just one month takes more than $ 10 billion business for his India-based digital platform company. Now Private equity company KKR is ready to invest 11.32 billion rupees in the Jio platform with a 2.32% stake. This is the fifth venture in Reliance Industries, following investments by main big industries from all over the world.

KKR & Co became the newest private equity company to invest in Jio Platforms Ltd, it is revealed in a statement. Reliance Industries Ltd is telecommunications and digital Services Company operated by Ambani’s, is one of the biggest companies in India. 

Details of Deal between KKR and Jio

This is KKR’s largest investment in Asia. It will bring a 2.32% stake in Platforms, “Reliance Industries Ltd said in a statement on Friday. In its May 21 issue, ET reported on KKR’s potential investment in Jio Platforms.

Other deals of Reliance Industries Ltd

With the latest deal, Jio Platforms will receive a total of Rs 78,562 from five investments. The Reliance Industries Ltd unit consists primarily of telecommunications businesses with over 388 million subscribers. 

Reliance has announced a series of blockbusters in recent weeks, starting with a 9.9% sale of its shares to Facebook at the end of last month. The deal, worth Rs. 43,574 crores (approximately $ 5.7 billion), puts an enterprise value of Rs. 5 lakh crores (approximately $ 66 billion) on the largest wireless service provider in the world. This was followed by an agreement with the US private equity firm Silver Lake, which purchased a 1.15% stake in Jio Platforms for Rs. 5,665.75 crores (approximately $ 750 million).

Also Read: Facebook and Silver Lake Invests in Jio

Social media giant Facebook Inc. was the first to go public with a $ 5.7 billion investment in Jio in late April in exchange for almost 10 percent of the shares. Silver Lake followed with its own $ 748 million financings, Vista Equity with $ 1.5 billion, and General Atlantic with $ 871 million.

With the latest deal, Jio Platforms will earn a total of Rs78,562 crore from the five investments. 

They have faced obstacles in boosting their internet models in India, where strict regulations protect small retail businesses.

Ambani is focusing on developing an e-commerce unit by recruiting so-called Kirana stores as its business partners

India has become one of the most important global hubs for Silicon Valley and Chinese tech companies seeking to capture 1.3 billion people in recent years. Large numbers of people in India remain without a mobile phone or internet connection.

Google, Microsoft, Amazon, Facebook, Xiaomi, and the parent company of TikTok, ByteDance, have already considered India as one of their most critical foreign markets. Over the past 10 years, nearly 500 million Indians used the Internet for the first time, courtesy of Reliance Jio’s appeal and massive influence, whose services have given the group a fan base of 388 million.

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