Home / Tech News / General Atlantic to invest $870M in India’s Reliance Jio Platforms

General Atlantic to invest $870M in India’s Reliance Jio Platforms


Mukesh Ambani’s

Jio Platforms has agreed to sell 1.34% stake to General Atlantic, the latest deal in a series of deals the top Indian telecom operator has secured in recent weeks.

On Sunday, General Atlantic said it would invest $869.8 million in the Indian firm, joining Facebook, Silver Lake, and Vista Equity Partners that have made sizeable bets on the three-and-a-half-year old Indian firm.

General Atlantic’s investment values Jio Platforms at $65 billion (equity valuation) — the same valuation implied by the Silver Lake and Vista deals and a 12.5% premium over Facebook’s deal, the Indian firm said.

Sunday’s announcement further illustrates the growing appeal of Jio Platforms, which has raised $8.85 billion, to foreign investors looking for a slice in the fast-growing world’s second largest internet market.

More to follow…

Source link

About admin

I'm a 50 year old PLC programmer from Burnley, UK. I severed my time as an electrician in the baking industry and soon got involved with the up and coming technology of PLC's. Initially this was all based in the Uk but as the years went by I have gradually worked my way around the globe. At first it was mainly Mitsubishi with a bit of Modicon thrown in but these days the industry leaders seem to be the Allen Bradley range of PLC and HMI’s.

Check Also

‘Fallout Shelter’ joins Tesla arcade in latest software update

Advertisements Nearly a year ago, Todd Howard, the director of Bethesda Games, said that the ...

Leave a Reply

Your email address will not be published. Required fields are marked *