General Atlantic to buy 1.34% stake in Jio Platforms for Rs 6598.38 crore
- Private equity firm General Atlantic is set to invest Rs 6,598.38 crore in Jio Platforms for a 1.34% stake.
- This will be the fourth investment in the Reliance Industries Ltd (RIL) business in rapid succession, following those by social media major Facebook and private equity funds Silver Lake and Vista Equity Partners.
- “This investment values Jio Platforms at an equity value of ₹4.91 lakh crore and an enterprise value of ₹5.16 lakh crore.
- General Atlantic’s investment will translate into a 1.34% equity stake in Jio Platforms on a fully diluted basis ” RIL said in a release.
- Jio Platforms will get a combined ₹67,194.75 crore from the four investments.
- The RIL unit comprises mostly its telecom business under Reliance Jio Infocomm, which is the largest in the country with more than 388 million subscribers.
- RIL’s other digital properties and investments such as Jio Cinema, Jio Saavn and Haaptik are housed in Jio Platforms.
About Reliance-
- Corporate Office– Mumbai, Maharashtra
- Chairman & Managing Director(MD)– Mukesh D. Ambani
About General Atlantic-
- Chief Executive Officer(CEO), New York- Bill Ford
- Head of India & Southeast Asia
- Managing Director(MD), Mumbai- Sandeep Naik
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