This transaction values Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of ? 5.16 lakh crore.
This is KKR’s largest investment in Asia and will translate into a 2.32 per cent equity stake in Jio Platforms on a fully diluted basis
Over the last month, leading technology investors, such as Facebook, Silver Lake, Vista, General Atlantic and KKR have announced aggregate investments of Rs 78,562 crore into Jio Platforms.
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.
Jio’s vision is to enable a Digital India for 1.3 billion people and businesses across the country, including small merchants, micro-businesses and farmers so that all of them can enjoy the fruits of inclusive growth.
Chairman and Managing Director of Reliance Industries Mukesh Ambani said, “I am delighted to welcome KKR, one of the world’s most respected financial investors, as a valued partner in our onward march to growing and transforming the Indian digital ecosystem for the benefit of all Indians.”
“KKR shares our ambitious goal of building a premier Digital Society in India,” he added.
“KKR has a proven track record of being a valuable partner to industry-leading franchises and has been committed to India for many years,” he further said.
We are looking forward to leveraging KKR’s global platform, industry knowledge and operational expertise to further grow Jio,” Ambani further added.
Co-Founder and Co-CEO of KKR Henry Kravis, 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.”
“Jio Platforms is a true home-grown next-generation technology leader in India that is unmatched in its ability to deliver technology solutions and services to a country that is experiencing a digital revolution,” he added.
“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 the Asia Pacific,” he further said
KKR is making the investment from its Asia private equity and growth technology funds.