The American investors are pouring billions into Indian Telecom operator Jio Platforms, in an effort to derive maximum benefit from the rapidly growing market of digital technologies in the country.
Jio Platforms, owned by billionaire Mukesh Ambani (Mukesh Ambani) from Reliance Industries, announced Friday in a statement that private equity firm KKR, with headquarters in new York promises $1.5 billion for 2.32 percent of the company's shares if its total valuation at $65 billion.
the Announcement was made a month after Facebook said it will invest $5.7 billion in Jio Platforms in exchange for a 9.9% stake. It was the biggest deal since Facebook buying WhatsApp for $19 billion
In turn, a venture capital company from Silicon valley Silver Lake stated that it has invested $750 million 18 days ago, and the private-equity company Vista with headquarters in Austin said that it has invested $1.5 billion 14 days ago.
Jio Platforms is the main favorite of the month among the leading investors in the United States. India, home to 1.35 billion people, are rapidly catching up with more technologically developed countries, and investors do not want to miss the opportunities provided by this country.
Platforms Jio manages a telecommunications network Jio Infocomm, which since launch in 2016 has garnered more than 388 million 4G subscribers. Today it is the largest telecommunications company of India, which also owns several applications and other services in the field of e-Commerce and broadband.
"Jio offers mobile Internet almost for free and trying to earn by selling subscriptions on their own version of Spotify and Netflix" — said Vishal Gulati (Vishal Gulati) a venture investor from the company Draper Esprit.
Ambani, the richest man in India, trying to sell about 20% Jio Platforms to raise money for an indebted parent company Reliance Industries, which is actively involved in the oil and petrochemical industry. Reported net debt is about $20 billion
For the past few weeks, U.S. investors bought shares Jio Platforms worth about $9 billion.
According to The Financial Times, the sovereign wealth Fund of Saudi Arabia and Mubadala, the sovereign wealth Fund of Abu Dhabi also consider the possibility of obtaining large blocks of shares worth about $1.5 and $1.2 billion respectively.
“very few companies have the potential to transform the digital ecosystem in the country as it makes Jio Platforms in India and perhaps around the world" — said Henry Kravis (Henry Kravis), co-founder and CEO of KKR.
"Jio Platforms is truly homegrown technology leader of next generation in India, which is unmatched in its ability to deliver technology solutions and services across the country, which is experiencing a digital revolution”.
Materials on this topic can also be read:
Investors are piling billions into this Indian telecom operator for a slice of the country’s booming digital economy (CNBC)
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