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KKR to invest $1.5 billion in India’s Reliance Jio Platforms

Mukesh Ambani’s Reliance Jio Platforms has agreed to sell 2.32% stake to U.S. equity firm KKR in what is the fifth major investment in the top Indian telecom firm in just as many weeks.
On Friday, KKR announced it will invest $1.5 billion in the Indian top telecom operator, a subsidiary of India’s most valued firm (Reliance Industries), joining fellow American investors Facebook, Silver Lake, Vista Equity Partners, and General Atlantic that have made similar bets on the Indian firm that has amassed over 388 million subscribers.
The investment from KKR, which has written checks to about 20 tech companies including ByteDance and GoJek to date, values Reliance Jio Platforms at $65 billion.
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