Reliance Industries on Sunday announced US fund General Atlantic will invest Rs. 6.598 crores ($870 million) in Jio Platforms, a fourth deal that takes investment in its digital unit to over $8 billion in less than a month. General Atlantic will pick up a 1.34 percent stake in Jio Platforms which includes movie, music apps as wells telecoms venture Jio Infocomm. The deal puts Jio Platform’s equity value at Rs. 4.91 lakh crores and gives it an enterprise value of Rs. 5.16 lakh crores, Reliance said in a statement.
The deals, along with Reliance’s plan to sell $7 billion (roughly Rs. 53,100 crores) in new shares, will help