General Atlantic to buy 1.34% stake in Jio Platforms for Rs 6598.38 crore

NEW DELHI: Reliance Industries Limited and Jio Platforms Limited said that gloval growth equity firm, General Atlantic, will buy 1.34% equity stake in Jio Platforms for Rs 6,598.38 crore.

This investment values Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore.

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

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.