Reliance Jio bags ₹6,598.38 crore investment from General Atlantic

The US-based equity firm General Atlantic will invest ₹6,598.38 crore in Reliance Industries Limited’s (RIL) Jio platforms. The investment translates to a 1.34% equity stake in Jio Platforms on a fully diluted basis. So far, Reliance Jio has bagged investments from Facebook, Silver Lake Partners and Vista Equity Partners.

According to RIL, the latest investment values Jio Platforms at an equity value of ₹4.91 lakh crore and an enterprise value of ₹5.16 lakh crore. Adding the latest investment, Jio Platforms have raised ₹67,194.75 crore thus far.

General Atlantic in the past has invested in leading technology platforms such as Airbnb, Alibaba, Ant Financial, Box, ByteDance, Facebook, Slack, Snapchat, and Uber more.