General Atlantic to invest ₹6,598 cr in Jio Platforms

MUMBAI : Reliance Industries Ltd (RIL) on Sunday said New York-based private equity giant General Atlantic will invest ₹6,598.38 crore in its digital assets subsidiary, Jio Platforms Ltd.

The deal, which comes just two days ahead of the launch of RIL’s ₹53,000-crore rights issue, will see General Atlantic pick up a 1.34% stake in Jio Platforms, valuing the company at ₹4.91 trillion.

With the latest deal, Jio Platforms has raised ₹67,194.75 crore from marquee tech investors, such as Facebook, Silver Lake, Vista Equity Partners and General Atlantic, in less than a month.