General Atlantic to invest Rs 6,598.38 crore in Jio Platforms
This will be fourth investment in Jio Platforms following those of Facebook, Silver Lake and Vista Equity Partners.
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Private equity firm General Atlantic will invest Rs 6,598.38 crore in Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore.
This will be a fourth investment in the Jio Platform following those of Facebook, Silver Lake, and Vista Equity Partners.
In a joint statement from parent company Reliance IndustriesNSE 1.63 % and Reliance Jio on Sunday, the company said General Atlantic’s investment will translate into a 1.34% equity stake in Jio Platforms on a fully diluted basis.
“Jio Platforms has raised Rs 67,194.75 crore from leading technology investors including Facebook, Silver Lake, Vista Equity Partners and General Atlantic in less than four weeks,” it added.
Mukesh Ambani, Chairman and Managing Director of Reliance Industries, said, “I am thrilled to welcome General Atlantic, a marquee global investor, as a valued partner. I have known General Atlantic for several decades and greatly admired it for its belief in India’s huge growth potential....We are excited to leverage General Atlantic’s proven global expertise and strategic insights across 40 years of technology investing for the benefit of Jio”.
The global equity company has a track record of investing in the Technology, Consumer, Financial Services, and Healthcare sectors.
Source: General Atlantic to invest Rs 6,598.38 crore in Jio Platforms
This will be a fourth investment in the Jio Platform following those of Facebook, Silver Lake, and Vista Equity Partners.
In a joint statement from parent company Reliance IndustriesNSE 1.63 % and Reliance Jio on Sunday, the company said General Atlantic’s investment will translate into a 1.34% equity stake in Jio Platforms on a fully diluted basis.
“Jio Platforms has raised Rs 67,194.75 crore from leading technology investors including Facebook, Silver Lake, Vista Equity Partners and General Atlantic in less than four weeks,” it added.
Mukesh Ambani, Chairman and Managing Director of Reliance Industries, said, “I am thrilled to welcome General Atlantic, a marquee global investor, as a valued partner. I have known General Atlantic for several decades and greatly admired it for its belief in India’s huge growth potential....We are excited to leverage General Atlantic’s proven global expertise and strategic insights across 40 years of technology investing for the benefit of Jio”.
The global equity company has a track record of investing in the Technology, Consumer, Financial Services, and Healthcare sectors.
Source: General Atlantic to invest Rs 6,598.38 crore in Jio Platforms
Private equity firm KKR to invest Rs 11,367 crore in Reliance Jio for 2.32% stake
My thoughts are these are done to gain some money for 4G spectrum auction and 5G upgrades
Rhishav
Tech & Telecom Buff
Other small companies are dying for investments during this pandemic while it's thug life for jio
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Rhishav
Tech & Telecom Buff
Yes. They have planned it very well.
airtel on the other hand is buying non-telecom companies for some reason.
Airtel acquires 10% stake in Artificial Intelligence startup Voicezen | Deccan Herald
Airtel acquires 10% stake in Artificial Intelligence startup Voicezen | Deccan Herald
