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KKR buys stake in Jio for Rs 11,367 crore

KKR buys stake in Jio for Rs 11,367 crore
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Reliance Industries on Friday announced the sale of a 2.32 per cent stake in its digital unit to US private equity giant KKR for Rs 11,367 crore, the fifth deal in four weeks that will inject a combined Rs 78,562 crore in the oil-to-telecom conglomerate to help it pare debt

New Delhi: Reliance Industries on Friday announced the sale of a 2.32 per cent stake in its digital unit to US private equity giant KKR for Rs 11,367 crore, the fifth deal in four weeks that will inject a combined Rs 78,562 crore in the oil-to-telecom conglomerate to help it pare debt.

This is KKR's largest investment in Asia. "This transaction values Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 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," the company said in a statement.

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