U.S. equity firm KKR has announced an investment of $1.5 billion in Jio Platforms. Even in the midst of lockdown, Reliance Industries has consistently seen a rise in its fortunes. Foreign companies are constantly investing heavily in Reliance’s Jio Platforms. Within a month, Reliance Jio platforms have been announced by Facebook Inc., General Atlantic, Silver Lake, and Vista Equity Partners.
Many U.S. companies are consistently investing heavily in Reliance’s telecom company, Jio Platforms. Now the US equity firm KKR has also announced an investment of $1.5 billion (about Rs 11,367 crore) in Jio platforms.
According to news agency Reuters, KKR will buy a 2.32 percent stake in Jio Platforms with this investment. Within a month, Investments in Reliance Jio platforms have been announced by Facebook Inc., General Atlantic, Silver Lake, and Vista Equity Partners.
In a world where other companies are struggling to survive, Ambani has struck deals with four foreign companies, including Facebook, General Atlantic, Silver Lake, and Vista Equity Partners, in just a few weeks. In fact, Reliance has got a new engine of growth in the form of ‘New Commerce’.
When Ambani set up his ‘New Commerce’ venture in July 2018, he had said that it has the potential to redefine India’s retail business and could become a new growth engine for Reliance in the coming years.
With this, Reliance will integrate digital and physical markets and exploit the vast network of MSMEs, farmers, grocery shopkeepers. By dealing with US giant Facebook, the company will take advantage of the wider reach of its proprietary WhatsApp and accelerate the drive of its new commerce business.