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RIL share price rises as KKR buys stake in Jio Platforms

KKR transaction values Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore.

May 22, 2020 / 10:35 AM IST

Reliance Industries (RIL) share price rose over 1 percent in early trade on May 22 after the company announced selling of further stake in its digital arm Jio Platforms.

The global private equity firm KKR will invest Rs 11,367 crore into Jio Platforms, a digital arm of the Reliance Industries, said the company.

The transaction values Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore, as per company release.

This is KKR’s largest investment in Asia and will translate into a 2.32% equity stake in Jio Platforms on a fully diluted basis.