US Equity Giant KKR to Invest Rs 11,367 Crore in Jio Platforms

Can Reliance get the rub of the green in 2017?

(Photo: BloombergQuint)

United States private equity giant KKR & Co Inc has bought a 2.32 percent stake in Mukesh Ambani's Jio Platforms for Rs 11,367 crore, the company stated on Friday, 22 May.

This latest infusion will take the total capital raised by Mukesh Ambani's telecom and digital services venture to nearly Rs 78,562 crore.

This is the fifth deal that Reliance has struck in four weeks for sale of a minority stake in Jio. The deal will give KKR, which has invested through its Asia and technology funds, a 2.32 percent stake.

This new investment follows the $5.7 billion cheque by US social media giant Facebook last month, which was in turn followed by investments by a slew of private equity firms – Silver Lake, Vista Equity Partners, and General Atlantic.