General Atlantic to invest Rs 6,598.38 crore in Jio Platforms

Mumbai: Private equity firm General Atlantic is set to invest ₹6,598.38 crore in Jio Platforms for a 1.34% stake. This will be the fourth investment in the Reliance IndustriesNSE -1.24 % Ltd (RIL) business in rapid succession, following those by social media major Facebook and private equity funds Silver Lake and Vista Equity Partners. Analysts expect more such deals to take place.

“This investment values Jio Platforms at an equity value of ₹4.91 lakh crore and an enterprise value of ₹5.16 lakh crore. General Atlantic’s investment will translate into a 1.34% equity stake in Jio Platforms on a fully diluted basis,” RIL said in a release on Sunday.