Jio Platforms: Asia’s richest man Mukesh Ambani attracts $10 billion of investment in weeks

Mukesh Ambani, Asia’s richest man, has lured more than $10 billion of investment for his India-based digital platform business in a month, even as the economy struggles under the world’s most stringent lockdown to prevent the spread of the coronavirus.

New York-based KKR & Co. on Friday became the latest private equity firm to invest in Jio Platforms Ltd., the telecom and digital services holding company controlled by Ambani’s Reliance Industries Ltd., the Mumbai-based company said in a statement. The private equity fund will pay 113.7 billion rupees ($1.5 billion) for a 2.3% stake in Jio.