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KKR to invest Rs 11,367 crore in Jio

Private equity firm KKR is all set to join other major firms like social media major Facebook, private equity funds Silver Lake, Vista Equity Partners and General Atlantic and invest in Jio Platforms. Jio Platforms will gain a combined Rs78,562 crore from these five investments.

KKR will invest Rs 11367 crore in Jio Platforms for a 2.32% stake. “This transaction values Jio Platforms at an equity value of Rs4.91 lakh crore and an enterprise value of Rs5.16 lakh crore. This is KKR’s largest investment in Asia and will translate into a 2.32% equity stake in Jio Platforms on a fully diluted basis,” RIL stated.

“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,” said Henry Kravis, Co-Founder of KKR.

Since its inception in 1976, KKR has invested over $30 billion (total enterprise value) in tech companies; of which more than 20 companies are in the technology, media and telecom sectors.