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Reliance Industries share gain after KKR's investment of Rs 11,367 crore in Jio Platforms

Reliance Industries share gain after KKR's investment of Rs 11,367 crore in Jio Platforms

Reliance Industries share gain after KKR's investment of Rs 11,367 crore in Jio Platforms
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By Mousumi Paul  May 22, 2020 12:56 PM IST (Updated)

Reliance Industries share price rose over 1 percent on Friday after the company announced selling of further stake in its digital arm. The US global private equity firm KKR will invest Rs 11,367 crore into Jio Platforms, making it the fifth large investor that the company has sold its stake to. The KKR deal values Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore.

Reliance Industries' share price rose over 1 percent on Friday after the company announced selling of further stake in its digital arm.

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The US global private equity firm KKR will invest Rs 11,367 crore into Jio Platforms for a 2.32 percent equity stake, making it the fifth large investor in the company.
With this deal in the past month (April 22 is when the Facebook deal was announced) Jio Platforms has seen a total investment of Rs 78,562 crore for 17.12 percent stake.
Post today's deal RIL stock gained as much as 1.17 percent in the morning session and then traded 0.63 percent lower to Rs 1,432 per share on the NSE. In the last one month since the Facebook sealed the first deal, the share price has rallied 10 percent to current levels.
This deal with Jio Platforms is KKR’s largest investment in Asia. The deal values Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore.
"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," said RIL Chairman Mukesh Ambani in a statement.
The investments by leading global investors will help Jio scale its ecosystem towards building a digital society in India.
 
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