Jio Platforms Limited is Indias leading digital services platform and wholly-owned subsidiary of Reliance Industries Limited, announced that KKR will invest approximately $1.7 billion into Jio Platforms. This is KKRs largest investment in Asia and will translate into a 2.32% equity stake in Jio Platforms on a fully diluted basis.
- In last one month, leading technology investors, such as, Facebook, Silver Lake, Vista, General Atlantic and KKR have announced aggregate investments of $11.7 billion into Jio Platforms.
- Founded in 1976, KKR has a long history of building leading global enterprises and successfully investing in businesses in the technology sector, including BMC Software, ByteDance and GoJek through its private equity and technology growth funds.
- Jio Platforms, is a next-generation technology platform focused on providing high-quality and affordable digital services across India, with more than 388 million subscribers. Jio Platforms has made significant investments across its digital ecosystem, powered by leading technologies spanning broadband connectivity, smart devices, cloud and edge computing, big data analytics, artificial intelligence, Internet of Things, augmented and mixed reality and blockchain.
The major deals and supports by Reliance Industries are featured below:
May 2020: Jio Platforms Limited a wholly-owned subsidiary of Reliance Industries Limited announced an investment of around USD 990 million by a leading global growth equity firm General Atlantic. General Atlantics investment will translate into a 1.34% equity stake in Jio Platforms on a fully diluted basis.
May 2020: Jio Platforms Limited has announced that Vista Equity Partners will invest $1.7 billion into the company. Texas based Vistas investment will translate into a 2.32% equity stake in Jio Platforms on a fully diluted basis.
May 2020: Reliance Industries Limited subsidiary Jio Platforms announced that Silver Lake will invest approximately $850 million into Jio Platforms. Jio is building a Digital Society for India with various apps and digital ecosystems.
April 2020: Jio Platforms Limited had announced that Facebook will invest approximately $6 billion in Jio Platforms for a 9.99% equity stake of the company on a fully diluted basis.
April 2020: Reliance Industries Ltd. (RIL) had announced that it will enhance its support to the service of the nation 24×7 in a collective fight against Covid-19. The company has already initiated a multi-pronged prevention, mitigation, and ongoing support strategy that is comprehensive, sustainable, and resilient.
March 2020, RIL announced $66 million contribution to Indias PM CARES Fund to fight against Covid-19. The company also supports with medical devices, food delivery for health workers and caregivers. The company announced that its employees are ready for nations service daily.
About Jio Platforms Limited
Jio Platforms Limited is a world-class digital platform provider, headquartered in India. It is a wholly-owned subsidiary of Reliance Industries Limited. It is a next-generation technology company building a Digital Society for India by bringing together Jios leading digital apps, digital ecosystems and high speed connectivity platform under one umbrella in India. Jio provides digital platform and technologies such as Broadband connectivity, Smart Devices, Cloud and Edge Computing, Big Data Analytics, Artificial Intelligence and Internet of Things.
About Reliance Industries Limited
Reliance Industries Limited, headquartered in Mumbai, India, is a leading multinational company. RILs activities include petroleum refining and marketing, hydrocarbon exploration and production, petrochemicals, retail and digital services. The companys products and services portfolio touches almost all Indians on a daily basis, across economic and social spectrums.