E-commerce

Great news continues for Reliance Jio: More investment bagged

Reliance Jio

Good news continues to roll out for Reliance Industries Limited’s (RIL) Jio platforms as the US-based equity firm General Atlantic is all set to invest ₹6,598.38 crore in it. The investment will also translate to a 1.34% equity stake in Jio Platforms. Reliance Jio has, so far, netted investments from Facebook, Silver Lake Partners and Vista Equity Partners.

As per RIL, this latest investment sees Jio Platforms values at an equity value of ₹4.91 lakh crore and the enterprise value stands at ₹5.16 lakh crore. If we add the latest investment, Jio Platforms have raised ₹67,194.75 crore thus far.

“I am thrilled to welcome General Atlantic, a marquee global investor, as a valued partner. I have known General Atlantic for several decades and greatly admired it for its belief in India’s huge growth potential. General Atlantic shares our vision of a Digital Society for India and strongly  believes in the transformative power of digitization in enriching the lives of 1.3 billion Indians. We are excited to leverage General Atlantic’s proven global expertise and strategic insights across 40 years of technology investing for the benefit of Jio,” said Mukesh Ambani, Chairman and Managing Director of Reliance Industries.

Speaking about the investment, Bill Ford, Chief Executive Officer of General Atlantic, said, “As long-term backers of global technology leaders and visionary entrepreneurs, we could not be more excited about investing in Jio. We share Mukesh’s conviction that digital connectivity has the potential to significantly accelerate the Indian economy and drive growth across the country. General Atlantic has a long track record working alongside founders to scale disruptive businesses, as Jio is doing at the forefront of the digital revolution in India.”

Related posts

Instagram to enter e-commerce space? Big tussle expected

The-digital-buyer

Smartphone sales in India hit zero in April: How will the industry be impacted

The-digital-buyer

eSalesData Unveils Exclusive Year-End Offer to Kick Start 2019

The-digital-buyer

Leave a Comment