Comprehensive M&A data with integrated detailed company information

KKR invests USD 1.51bn in Jio
Posted on Friday, 22 May 2020 09:32
KKR is making its largest investment in Asia by acquiring 2.3 per cent of Jio Platforms for INR 113.67 billion (USD 1.51 billion), just days after General Atlantic said it is buying a 1.3 per cent stake for INR 65.98 billion.

The agreement values the equity of Reliance Industries’ digital services platform at an INR 4,910 billion, or INR 5,160 billion on an enterprise basis.

KKR co-founder and co-chief executive, Henry Kravis, said, “Few companies have the potential to transform a country’s digital ecosystem in the way that Jio Platforms is doing in India, and potentially worldwide.”

The mobile telecommunications provider is focused on providing digital services to more than 388.00 million subscribers across India.

Jio has created an operation comprising of network, devices, applications and content, as well as affordable tariffs.

The group powers this eco-system via significant investments spanning broadband connectivity, smart devices, cloud and edge computing, big data analytics, artificial intelligence, Internet of Things, augmented and mixed reality and blockchain.

Jio’s vision is to enable a digital India for inclusive growth for 1.30 billion people and enterprises across the country, including small merchants, micro-businesses and farmers.

Over the last month, the company has raised a total INR 785.62 billion from selling an aggregate 17.0 per cent stake to the likes of Facebook, Silver Vista, General Atlantic and KKR in the last couple of months.

Zephyr, the M&A database published by Bureau van Dijk, shows the latest Jio deal is the sixth-largest development capital, venture capital or private equity-backed investment targeting an Indian company on record.

Celetronix International raised USD 4.14 billion in 2006, while Microsoft, eBay and Tencent, among others, injected USD 3.80 billion into Flipkart in 2017.

Other high-value deals and investments in the country have also targeted ANI Technologies (USD 2.10 billion), Pipeline Infrastructure (USD 1.93 billion), and GMR Airports (USD 1.81 billion).

© Zephus Ltd