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General Atlantic Picks A Stake In Jio Platforms

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Reliance Industries and Jio Platforms Limited have announced an investment of Rs 6,598.38 crore by General Atlantic, a leading global growth equity firm.

This investment values Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore.

General Atlantic Picks A Stake In Jio Platforms
 

General Atlantic's investment will translate into a 1.34% equity stake in Jio Platforms on a fully diluted basis. With this investment, Jio Platforms has raised Rs 67,194.75 crore from leading technology investors including Facebook, Silver Lake, Vista Equity Partners and General Atlantic in less than four weeks.

Mukesh Ambani, Chairman and Managing Director of Reliance Industries, said, "I am thrilled to welcome General Atlantic, a marquee global investor, as a valued partner. I have known General Atlantic for several decades and greatly admired it for its belief in India's huge growth potential. General Atlantic shares our vision of a Digital Society for India and strongly believes in the transformative power of digitization in enriching the lives of 1.3 billion Indians. We are excited to leverage General Atlantic's proven global expertise and strategic insights across 40 years of technology investing for the benefit of Jio."

Read more about: jio reliance
Story first published: Monday, May 18, 2020, 8:17 [IST]
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