US private equity giant General Atlantic has invested $870 million (approximately Rs 6,598 crore) in Reliance’s Jio Platforms in its largest deal in Asia so far. The investment gives General Atlantic a 1.34 percent stake in Jio Platforms on a fully diluted basis, Reliance Industries announced.
Analysts believe that the increasing interest from foreign tech investors is paving the path for Jio Platforms going public, and also becoming profitable by the end of this year.
Sanchit Vir Gogia, Founder and CEO, Greyhound Research, said, “RIL’s ambitions for Jio are broader and deeper than what meets the eye. It always wanted to take Jio beyond connectivity. Jio is a data, technology, and ecosystem opportunity. Connectivity is the lubricant for the engines of community, content, commerce, currency, and capital. The intent is to leverage tech to capitalise on assets across RIL portfolio companies.”
P.S.: To read a research report on the investments in Jio Platforms, click here.
Sanchit Vir Gogia: Sanchit is the Chief Analyst, Founder & CEO of Greyhound Research, a Global, Award-Winning, Technology & Innovation Research & Advisory firm. To read more about him, click here.
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