Reliance Jio has now revealed that General Atlantic, a leading growth equity form will now going to invest in Jio platforms. The company has also revealed that General Atlantic will buy around 1.34% equity stake in Jio platforms on a fully diluted basis.
The firm will buy the stakes at INR 3598.38 crore. The company has also revealed that he investment values Jio Platform at an quity stake of INR 4.91 lakh core and an enterprise value of INR 5.16 lakh crore.
General Atlantic has investments in multiple global technology companies include the Alibaba, AirBnb, ByteDance, box, Ant Fianncial, Slack, Uber, Snapchat, Facebook and more.
“I am thrilled to welcome General Atlantic, a marquee global investor, as a valued partner. I have known General Atlantic for several decades and greatly admired it for its belief in India’s growth potential. General Atlantic shares our vision of a Digital Society for India and strongly believes in the transformative power of digitization in enriching the lives of 1.3 billion Indians. We are excited to leverage General Atlantic’s proven global expertise and strategic insights across 40 years of technology investing for the benefit of Jio,” said, Mukesh Ambani, Chairman and Managing Director of Reliance Industries.
