The deal, once completed, will mark the largest investment in Asia by US-based private equity firm KKR KKR and Co. Inc. said on Friday it will invest ₹11,367 crore in Reliance Industries Ltd’s (RIL’s) digital assets subsidiary Jio Platforms Ltd, in what would be its single-largest investment in Asia so far.
The deal will fetch the New York-based private equity (PE) giant a 2.32% stake in Jio Platforms, which is in a capital raising spree, having swung five hefty share sale deals in just a month, including the latest transaction.
KKR’s investment will take Mukesh Ambani-promoted RIL closer to its target of shedding net debt worth ₹1.53 trillion by March 2021.