All eyes on Jio Platforms again!

Reliance Industries (RIL) announced that private equity firm-KKR will be making an investment worth Rs 11,367 crore into Jio Platforms. With this, Jio Platforms continue its streak of bagging attractive deals.

As per the press release, post this investment, KKR will become 2.32 per cent equity stakeholder in Jio Platforms on fully-diluted basis. KKR is one of the leading global investment firms, managing multiple alternative asset classes, including private equity, energy, infrastructure, real estate and credit along with strategic partners, who manage hedge funds. The transaction, which is subject to regulatory and other customary approvals, will be made by KKR from its Asia private equity and growth technology funds.

Previously, RIL has announced that leading technology investors such as Facebook, Silver Lake, Vista, General Atlantic and now KKR have invested in Jio Platforms, making the aggregate investment value around Rs 78,562 crore.

Commenting on the investment, 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. 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.”

On Friday, at 10 am, the stock of the company was trading at Rs 1,448.40, up by 0.58 per cent or Rs 8.35 per share. The 52-week high is Rs 1,603.24 and 52-week low is Rs 867.82 on BSE.