Reliance Industries Limited and Jio Platforms got another major investment. Global investment firm KKR has decided to invest Rs 11,367 crore. It was announced by Reliance Industries on Friday.
This is KKR’s largest investment in Asia. KKR will hold a 2.32% stake in Jio Platforms. Recently, Facebook, Silver Lake, Vista, General Atlantic have invested recently. These six companies have jointly invested a total of Rs 78,562 crore so far.
In a statement issued by Reliance Jio, it is said that Jio Platforms is a fully owned subsidiary of Reliance Industries Limited. It is the next generation technology platform with a focus on delivering high quality digital services at affordable prices in India. It has 38.8 million subscribers.
KKR is a global company with a strong investment in the technology sector. The company has also invested in BMC Software, Byte Dance and Gojek. The company has invested $ 30 billion in tech companies. The company has been investing in India since 2006.
Mukesh Ambani, Chairman and Managing Director of Reliance Industries said, “I am pleased to welcome KKR, one of the world’s most respected financial investors, as an important partner.” KKR will be our partner in our journey of change in the Indian digital eco system. It will be beneficial for all Indians. KKR shares our ambitious goal of building a premier digital society in India. KKR’s track record of being an important partner is superb. We look forward to leveraging KKR’s global platform, industry insights and operational expertise to drive Jio forward. ”
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KKR co-founder and co-CEO Henry Kravis said, “Few companies have the ability to transform the country’s digital eco-system as Jio Platforms is doing in India and possibly around the world. Jio Platforms One True Swadeshi is the platform that is making digital revolution in India and has unmatched ability to deliver technology solutions and services to the country. We are investing due to the impressive speed, world-class innovation and strong leadership team of Jio Platforms. This investment We see KCR’s commitment to support leading technology companies in India and Asia Pacific. “