Gulf Oil and Gas accountACCOUNT

KKR to Invest 11,367 Crore in Jio Platforms

Source: www.gulfoilandgas.com 5/21/2020, Location: Asia

Reliance Industries Limited and Jio Platforms Limited, India’s leading digital services platform, announced today that KKR will invest 11,367 crore into Jio Platforms. This transaction values Jio Platforms at an equity value of 4.91 lakh crore and an enterprise value of 5.16 lakh crore. This is KKR’s largest investment in Asia and will translate into a 2.32% equity stake in Jio Platforms on a fully diluted basis. Over the last month, leading technology investors, such as, Facebook, Silver Lake, Vista, General Atlantic and KKR have announced aggregate investments of 78,562 crore into Jio Platforms.

Jio Platforms, a wholly-owned subsidiary of Reliance Industries, is a next-generation technology platform focused on providing high-quality and affordable digital services across India, with more than 388 million subscribers. Jio Platforms has made significant investments across its digital ecosystem, powered by leading technologies 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 1.3 billion people and businesses across the country, including small merchants, micro-businesses and farmers so that all of them can enjoy the fruits of inclusive growth.

Founded in 1976, KKR has a long history of building leading global enterprises and successfully investing in businesses in the technology sector, including BMC Software, ByteDance and GoJek through its private equity and technology growth funds. Since inception, the firm has invested over $30 billion (total enterprise value) in tech companies, and today the firm’s technology portfolio has more than 20 companies across the Technology, Media and Telecom sectors. In addition, India has been a key strategic market for KKR with a history of investing in the country since 2006.

Mukesh Ambani, Chairman and Managing Director of Reliance Industries, said, “I am delighted to welcome KKR, one of the world’s most respected financial investors, as a valued partner in our onward march to growing and transforming the Indian digital ecosystem for the benefit of all Indians. KKR shares our ambitious goal of building a premier Digital Society in India. KKR has a proven track record of being a valuable partner to industry-leading franchises and has been committed to India for many years. We are looking forward to leveraging KKR’s global platform, industry knowledge and operational expertise to further grow Jio.”

Henry Kravis, Co-Founder and Co-CEO of KKR, 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. Jio Platforms is a true homegrown next generation technology leader in India that is unmatched in its ability to deliver technology solutions and services to a country that is experiencing a digital revolution. 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 Asia Pacific.”

KKR is making the investment from its Asia private equity and growth technology funds.

Software >>

Software News in India >>

France >>  7/1/2020 - CGG GeoSoftware has collaborated with Alibaba Cloud to successfully deploy its suite of proprietary geoscience software solutions on the Alibaba Cloud...
United States >>  7/1/2020 - Dow announced its MobilityScience™platform designed to enhance the customer experience by tailoring technologies, products, and services from across D...

Australia >>  6/25/2020 - mCloud Technologies Corp., a leading provider of asset management solutions combining IoT, cloud computing, artificial intelligence ("AI") and analyti...
United Kingdom >>  6/25/2020 - Intertek, a leading Total Quality Assurance provider to industries worldwide, is pleased to unveil its recently updated, end-to-end Supply Chain compl...

India >>  6/23/2020 - Wipro Limited, a leading global information technology, consulting and business process services company, today announced that it has been awarded a s...
United States >>  6/18/2020 - Quorum Software, the leader in digital transformation for the oil and gas industry, announced that Black Bear Transmission LLC (Black Bear) has select...




India Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 |

More News

Related Links

Gulf Oil and Gas
Copyright © 2020 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.