General Atlantic open to raising stake in Jio Platforms: India Managing Director

MUMBAI: General Atlantic will be looking at opportunities to increase its stake in Jio Platforms and its alliance with the digital unit of Reliance Industries is for the long haul and not just till the initial share sale of the company, said a top official of the Indian unit of the US private equity player.

“We look forward to partnering with Jio, and GA seeks to look for opportunities to back our winners,” Sandeep Naik, Managing Director of General Atlantic’s business in India & Southeast Asia, told ET. “…with Jio, we found the right platform that can help in digital opportunities.”

Naik’s comments come on the back of the announcement earlier Sunday that the PE firm is set to invest Rs 6,598.38 crore in Jio Platforms for a 1.34% stake.

Naik said that this was a long-term investment and not keeping short-term milestones like Jio Platforms’ expected IPO in mind. Analysts expect an IPO for Jio Platforms in around two years.