Day: May 22, 2020

KKR-Jio Deal: US PE Giant KKR to Invest Rs. 11,367 Crores in Jio Platforms

Reliance Industries on Friday announced the sale of a 2.32 percent stake in its digital unit to US private equity giant KKR for Rs. 11,367 crores, the fifth deal in four weeks that will inject a combined Rs. 78,562 crores in the oil-to-telecom conglomerate to help it pare debt. This is KKR’s largest investment in Asia.

“This transaction values Jio Platforms at an equity value of Rs. 4.91 lakh crores and an enterprise value of Rs. 5.16 lakh crores. This is KKR’s largest investment in Asia and will translate into a 2.32 percent equity stake in Jio Platforms on a fully diluted basis,” the company said in a statement.

The deal follows Facebook picking up a 9.99 percent stake in the firm, housing India’s youngest but largest telecom company, on April 22 for Rs. 43,574 crores.

Within days of that deal, Silver Lake – the world’s largest tech investor –

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