Just before the rights issue, Reliance Industries' Jio Platform has bagged another investment by private equity fund General Atlantic for a 1.34% stake worth Rs. 6598.38 crore. It is the fourth largest investment in Jio Platforms in 4 weeks time.
"As an integrated team operating under a global investment platform across 14 locations, General Atlantic invests behind themes that are driven by innovation and entrepreneurship and supported by long-term secular growth," RIL said in the statement.
Key points of the deal
1. Largest investment of General Atlantic in Asia
2. The platform Jio has aggregated a total of Rs. 67,194.75 crore from investments by Facebook, Vista Equity and Silver Lake Partners in less than 4 weeks.
3. The deal reaffirms Jio's standing as the next-generation software product and platform entity
4. The wide interest by global investors also highlights the companies' capabilities in the area of technology and the potential of its business model even in Covid 19 times.
With the latest investment, Jio will be able to top its funds over and above the $8 billion mopped up so far through the earlier three deals.