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Jio Platform likely to raise USD one billion from KKR and Co

Thursday, 21 May 2020
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Jio Platforms is likely to get another USD one billion from KKR and Co.

The company is in active discussions to invest in Reliance Industries’ Jio Platform. KKR and Co has been carrying out diligence for a while and is expected to be nearing a deal that might see it deploying between USD 750 million and USD one billion, similar to previous rounds.

Other than KKR and Co, sovereign fund Public Investment Fund of Saudi Arabia may also buy stake in Jio Platforms as the company continues to attract marquee investors.

Since 22 April 2020, Reliance Industries has raised around USD 8.8 billion from four strategic and financial investors by selling around 15 percent in Jio Platforms, starting with Facebook.

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