Reliance Jio today announced that KKR a leading global investment firm will invest Rs. 11,367 crore in Jio Platforms. This investment values Jio Platforms at an equity value of Rs. 4.91 lakh crore and an enterprise value of Rs. 5.16 lakh crore. KKR’s investment will translate into a 2.32% equity stake in Jio Platforms on a fully diluted basis.
Jio Platforms has raised ₹ 78,562 crore from leading technology investors including Facebook (Rs. 43,574 crore) in April, Silver Lake (Rs. 5,655.75 crore), Vista Equity Partners (Rs. 11367 crore) and General Atlantic (Rs. 6,598.38 core) in May.
KKR’s investments have included BMC Software, ByteDance and GoJek through its private equity and technology growth funds. Since inception, the firm has invested over $30 billion (total enterprise value) in tech companies, and today the firm’s technology portfolio has more than 20 companies across the Technology, Media and Telecom sectors. In addition, India has been a key strategic market for KKR with a history of investing in the country since 2006.
KKR said that it is making the investment from its Asia private equity and growth technology funds. The transaction is subject to regulatory and other customary approvals.
Mukesh Ambani, Chairman and Managing Director of 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 of 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.