Info-tech

Jio Platforms raises Rs 6,598.38 crore from General Atlantic

Rajesh Kurup Mumbai | Updated on May 17, 2020 Published on May 17, 2020

Reliance Jio logo at a mobile phone store in Hyderabad   -  Nagara Gopal

In its fourth fund raising in less than a month, Jio Platforms, a subsidiary of Asia's richest man Mukesh Ambani-controlled Reliance Industries Ltd (RIL), has raised Rs 6,598.38 crore from US PE major General Atlantic (GA).

ALSO READ: Rs 43,574-crore ‘like’: Facebook picks 9.99 per cent in Jio Platforms

The investment, which is GA’s largest in Asia, is in lieu of a 1.34 per cent stake, RIL said in a regulatory filing.

 

With this, Jio Platforms had raised Rs 67,194.75 crore from leading technology investors including Facebook, Silver Lake Partners, Vista Equity Partners and General Atlantic in less than four weeks.

ALSO READ: Silver Lake to invest ₹5,655 crore in Jio Platforms

The investments by leading global growth investors to help enable Jio to scale its ecosystem towards building a digital society in India, it said in a regulatory filing.

ALSO READ: Silver Lake to invest ₹5,655 crore in Jio Platforms

This re-emphasises Jio’s continuing attraction among global investors for its deep understanding of the Indian markets, the rapid digitisation opportunity post-Covid and its capabilities to bring cutting-edge technologies and tools such as AI, Blockchain, AR/VR, Big Data into play for all Indians.

Diverse marquee investors are becoming long-term shareholders of JPL because of a unique set of technologies and platforms under one entity. There are no similar opportunities available anywhere else globally. And it is an endorsement of the quality of the management.

ALSO READ: Jio Platforms raises ₹11,367 crore from Vista Equity Partners

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Published on May 17, 2020
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