Last Updated : Friday, May 22, 2020 22:49:14

GENERAL ATLANTIC acquires 1.34% stake in (RIL) JIO PLATFORMS @ 66 bln INR

MUMBAI / RAJKOT – In a regulatory update as submitted to the Indian Stock Exchanges, Mumbai headquartered Diversified Indian Conglomerate Mukesh Ambani led Reliance Group’s flagship company Reliance Industries Ltd said of General Atlantic, a leading global equity firm having invested 66 billion (~6,598.38 crore) rupees in Jio Platforms Ltd.

In a press-release titled, “GENERAL ATLANTIC TO INVEST ₹ 6,598.38 CRORE IN JIO PLATFORMS”, as attached and enclosed with the regulatory filing as submitted by the company to the Indian Bourses, it further read that, INVESTMENT BY LEADING GLOBAL GROWTH INVESTOR TO HELP ENABLE JIO TO SCALE ITS ECOSYSTEM TOWARDS MISSION OF BUILDING A DIGITAL SOCIETY FOR INDIA.


The release details further read that, Reliance Industries Limited (“Reliance Industries”) and Jio Platforms Limited (“Jio Platforms”), India’s leading digital services platform, today announced an investment of ₹ 6,598.38 crore by General Atlantic, a leading global growth equity firm.

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.

With this  investment, Jio Platforms has raised ₹ 67,194.75 crore from leading technology investors including Facebook, Silver Lake, Vista Equity Partners and General Atlantic in less than four weeks.

Jio Platforms, a wholly-owned subsidiary of Reliance Industries, is a next-generation technology platform focused on providing high-quality and affordable digital services across India, with more than 388 million subscribers.


Jio Platforms has made significant investments across its digital ecosystem, powered by leading technologies spanning broadband connectivity, smart devices, cloud and edge computing, big data analytics, artificial intelligence, Internet of Things, augmented and mixed reality and blockchain.

Jio’s vision is to enable a Digital India for 1.3 billion people and businesses across the country, including small merchants, micro-businesses and farmers so that all of them can enjoy the fruits of inclusive growth.

General Atlantic is a leading global growth equity firm with a 40-year track record of investing in the Technology, Consumer, Financial Services and Healthcare sectors.

As an integrated team operating under a global investment platform across 14 locations, General Atlantic invests behind themes that are driven by innovation and entrepreneurship and supported by long-term secular growth.


General Atlantic has a longstanding tradition of backing disruptive entrepreneurs and companies around the world, including Airbnb, Alibaba, Ant Financial, Box, ByteDance, Facebook, Slack, Snapchat, Uber and other global technology leaders.

The transaction is subject to regulatory and other customary approvals.

Morgan Stanley acted as financial advisor to Reliance Industries and AZB & Partners, and Davis Polk & Wardwell acted as legal counsel.

Paul, Weiss, Rifkind, Wharton & Garrison and Shardul Amarchand Mangaldas & Co. acted as legal counsel to General Atlantic.


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