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KKR To Invest About $1.5 Bln In India's Reliance Jio

Billionaire Mukesh Ambani's Reliance Industries Limited said that U.S. private equity firm KKR will invest 11,367 crore Indian rupees or about $1.5 billion in its Jio Platforms Ltd

According to Reliance Industries, the investment values Jio Platforms at an equity value of 4.91 lakh crore rupees and an enterprise value of 5.16 lakh crore rupees.

KKR's investment represents a 2.32% equity stake in the Indian telecom operator Jio, which has more than 388 million subscribers.

Recently, Jio Platforms has raised 78,562 crore rupees from technology investors including Facebook, Silver Lake, Vista Equity Partners, General Atlantic and KKR, Reliance Industries said in a statement.

Last Sunday, Reliance said that General Atlantic would invest 6,598.38 crore Indian rupees or about $870 million in its Jio Platforms Ltd.

Earlier this month, Vista Equity Partners agreed to invest 11,367 crore rupees into Jio Platforms. Vista's investment represents 2.32% equity stake in Jio Platforms.

In addition, Reliance said in this month that American private equity firm Silver Lake Partners invested 5,655.75 crore rupees or around $746.7 million in its Jio Platforms.

Last month, Facebook Inc. agreed to buy 9.99 percent stake in India-based Jio Platforms Ltd. The social media giant would make an investment of 43,574 crore Indian rupees or about $5.68 billion into Jio.

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