General Atlantic to invest Rs 6,598.38 crore in Jio Platforms

Mumbai: General Atlantic private equity firm is set to invest Rs 6,598.38 crore in Jio platforms for a 1.34% stake. This will be the fourth investment in Reliance Industries Ltd (RIL) in rapid succession, following those by social media major Facebook, Silver Lake and Vista Equity Partners. Analysts expect more such deals to take place.

“This investment values Jio platforms at an equity value of ₹4.91 lakh crore and an enterprise value of ₹5.16 lakh crore. General Atlantic’s investment will translate into a 1.34% equity stake in Jio Platforms on a fully diluted basis.  RIL said in a release on Sunday.

With the latest deal, Jio Platforms will get a combined ₹67,194.75 crores from the four investments. The RIL unit mainly consists of its telecom business under Reliance Jio Infocomm, which is the largest in the country with over 388 million subscribers. RIL real estate and other digital investments like Jio Cinema, Jio Saavn, and Haaptik are on Jio platforms.

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