General Atlantic may invest up to ₹10,000 crore in Jio Platforms

MUMBAI : New York-based private equity firm General Atlantic could end up investing around ₹10,000 crore for a 2% stake in Jio Platforms Ltd, a wholly-owned subsidiary of Reliance Industries Ltd (RIL).

General Atlantic and RIL have been in discussion for a while now, two persons aware of the development confirmed this.

“General Atlantic is considering to put in around $1.3 billion in Jio Platforms and the decision may be taken very soon. It will be one of the largest investments by General Atlantic across emerging markets. The deal may happen at a marginal premium of around 10% to the recently fetched valuations of Jio,” said the first person, adding that the transaction may give General Atlantic 2.1-2.2% stake in Jio Platforms.