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KKR picks 2.32 pc stake in Jio Platforms for Rs 11,367 crore

Business Finance

Press Trust of India  |  New Delhi 

Following in Facebook's footsteps, US private equity giant KKR & Co. Inc. has bought a 2.32 per cent stake in the digital unit Reliance Industries for Rs 11,367 crore, the billionaire Mukesh Ambani-led firm said on Friday.

This is the fifth deal Reliance has struck in four weeks for sale of minority stake in the unit that houses India's youngest but largest telecom firm, Jio.

Prior to this, Jio Platforms had raised Rs 67,194.75 crore from leading technology investors including Facebook, Silver Lake Partners, Vista Equity Partners and General Atlantic.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, May 22 2020. 07:54 IST