Hindi Tamil Telugu
    More
    In the news
    Narendra Modi
    Amit Shah
    Box Office Collection
    Bharatiya Janata Party (BJP)
    OTT releases
    Hindi Tamil Telugu
    User Placeholder

    Hi,

    Logout

    India
    Business
    World
    Politics
    Sports
    Technology
    Entertainment
    Auto
    Lifestyle
    Inspirational
    Career
    Bengaluru
    Delhi
    Mumbai

    Download Android App

    Follow us on
    • Facebook
    • Twitter
    • Linkedin
    Home / News / Business News / Jio Platforms raises Rs. 11,367 crore from KKR: Details here
    Next Article
    Jio Platforms raises Rs. 11,367 crore from KKR: Details here

    Jio Platforms raises Rs. 11,367 crore from KKR: Details here

    By Shubham Sharma
    May 22, 2020
    12:02 pm

    What's the story

    Jio Platforms, the company holding the telecom and digital businesses of Reliance Industries Limited (RIL), has raised Rs. 11,367 crore ($1.5 billion) from US-based equity firm KKR.

    The investment comes as the fifth major deal for the Mukesh Ambani-led giant and is expected to help towards clearing RIL's ginormous Rs. 1.61 lakh crore debt in the coming months.

    Here is more about it.

    Deal

    Selling 2.32% stake

    On Friday morning, KKR announced the decision to invest Rs. 11,367 crore ($1.5 billion) for a 2.32% stake in Jio Platforms.

    The investment values Jio Platforms at an equity value of Rs. 4.91 lakh crore and an enterprise value of Rs. 5.16 lakh crore, the same implied in the recent deals with Silver Lake, Vista Equity, and General Atlantic.

    You're
    16%
    through

    Previous investments

    Over Rs. 78,500 crore raised in one month

    The latest capital infusion takes the total funds raised by Jio Platforms within the last one month to Rs. 78,561.75 crore.

    Prior to this, the company had sold a 9.99% stake to Facebook for Rs. 43,574 crore, 1.15% to Silver Lake for Rs. 5,655.75 crore, a 2.32% to Vista Equity for Rs. 11,367 crore, and 1.34% to General Atlantic for Rs. 6,598.38 crore.

    You're
    33%
    through

    KKR

    KKR has invested in some high-profile firms

    Like other recent Jio investors, KKR, formerly known as Kohlberg Kravis Roberts & Co., has also invested in some very high-profile tech companies, including giants like ByteDance and GoJek.

    Ambani said Reliance and Jio Platforms were looking forward to leveraging "KKR's global platform, industry knowledge, and operational expertise to further grow Jio" and its wide range of products.

    You're
    50%
    through

    Jio Platforms

    Jio Platforms dominates India's digital and telecom space

    Jio Platforms dominates India's digital space; within just three-and-a-half years of launch, its telecom business - Jio Infocomm - became the biggest in the country with a whopping 388 million subscribers.

    And, that is not it. Jio Platforms also holds Reliance's home broadband business Jio Fiber, feature phone business, music streaming service JioSaavn, on-demand live television service, and a payments service, among other things.

    You're
    66%
    through

    Quote

    Here's what Henry Kravis, KKR CEO, said on the deal

    "We are investing behind Jio Platforms' impressive momentum, world-class innovation and strong leadership team, and we view this landmark investment as a strong indicator of KKR's commitment to supporting leading technology companies in India and the Asia Pacific." This is KKR's largest investment in Asia.

    You're
    83%
    through

    Goal

    Goal to clear debts by the end of 2020

    This and previous investments would ultimately help Ambani fulfill his goal of making Reliance Industries debt-free by early 2021.

    The company has a total net debt of Rs. 1.61 lakh crore, of which it expects to raise Rs. 1.04 lakh crore by June, RIL CFO Srikanth Venkatachari said in a recent earnings call.

    The rest is expected to be cleared by the year-end.

    Done!
    Facebook
    Whatsapp
    Twitter
    Linkedin
    Related News
    Latest
    Mukesh Ambani
    Reliance Industries
    General Atlantic
    Jio Platforms Limited

    Latest

    Pope Leo XIV urges unity, to continue Pope Francis's legacy Pope Francis
    'Fauji': Prabhas gears up for upcoming Hyderabad schedule Prabhas
    Tata Harrier EV launching on June 3: What to expect Tata
    Nehal Wadhera records his career-best IPL score: Key stats Indian Premier League (IPL)

    Mukesh Ambani

    Know all about Akash Ambani, Mukesh Ambani's elder son Mumbai
    #PulwamaAttack: Reliance Foundation to provide education, employment to martyrs' children India
    Akash Ambani's pre-wedding celebrations kick-start with musical night (see pics) Mumbai
    Akash-Shloka's uber-expensive wedding invitation to have special gift for guests Akash Ambani

    Reliance Industries

    Reliance Jio extends Rs. 699 JioPhone Diwali offer till November Diwali
    Reliance Jio begins electric vehicle delivery trials for e-commerce venture India
    Now, Mukesh Ambani is 9th richest, ahead of Google founders Mukesh Ambani
    Tata Sky introduces data rollover benefit for broadband subscribers India

    General Atlantic

    Uber's $12bn investor deal hinges on Benchmark/Kalanick lawsuit Uber
    Workplace messaging service Slack is raising $400mn in new round WhatsApp
    Indian ed-tech start-up Unacademy raises $110M from Facebook, others X
    Jio Platforms raises Rs. 6,598 crore from General Atlantic United States of America

    Jio Platforms Limited

    Facebook invests $5.7 billion (Rs. 43,574 crore) in Jio Facebook
    Jio Platforms gets Rs. 5,655 crore investment from Silver Lake Mukesh Ambani
    Indian Premier League (IPL) Celebrity Hollywood Bollywood UEFA Champions League Tennis Football Smartphones Cryptocurrency Upcoming Movies Premier League Cricket News Latest automobiles Latest Cars Upcoming Cars Latest Bikes Upcoming Tablets
    About Us Privacy Policy Terms & Conditions Contact Us Ethical Conduct Grievance Redressal News News Archive Topics Archive Download DevBytes Find Cricket Statistics
    Follow us on
    Facebook Twitter Linkedin
    All rights reserved © NewsBytes 2025