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KKR To Invest Rs. 11,367 Crore In Jio Platforms

KKR To Invest Rs. 11,367 Crore In Jio PlatformsJio Platforms
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KKR, the US-based global investment firm, joined a clutch of other major investors in Jio Platforms, a wholly-owned subsidiary of Mukesh Ambani’s Reliance Industries Limited (RIL).

KKR, the US-based global investment firm, joined a clutch of other major investors in Jio Platforms, a wholly-owned subsidiary of Mukesh Ambani's Reliance Industries Limited (RIL). RIL on Friday announced KKR's proposed investment of Rs 11,367 crore in Jio platforms for a 2.32 per cent equity stake in Reliance's digital services platform. RIL announced that the deal is subject to regulatory approvals.

KKR is the latest big name to invest in Jio platforms after other top-notch equity funds such as Facebook, Silver Lake, Vista Equity Partners, General Atlantic.

RIL aims at becoming a zero net debt company by March 2021 and the investment is a part of the objective to raise funds to meet the goal . RIL has so far raised Rs 78,562 crore in one month, taking the company closer to its goal of becoming a zero net debt company by March 2021.

RIL constitutes its telecom business under Reliance Jio Infocomm, the largest in the country with close to 400 million subscribers.

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