The American private equity firm KKR will take a 2.32% stake from Reliance Jio Platforms at $1.5bn. This investment is aimed to help develop Jio Platforms into a tech giant.
In the last weeks, the Indian telecommunications firm has already attracted almost $9bn from top US investors, with Jio Platforms selling 17% of its stake and raising $10.35bn during the last month.
Asia’s wealthiest man, Mukesh Ambanis, has invested over $30bn into building the Jio Platforms, considered the world’s second largest internet market.
Reliance Jio is seen as one of the strongest India’s leading digital services platforms, providing free voice calls and cut-rate data plans. Jio Platforms operates Jio Infocomm, a top telecom operator in the country. Jio platforms also includes other services such as music streaming, digital apps, JioTV and is developing a footprint in the videogame category.
Companies such as Facebook, Google, Microsoft and Amazon consider India one of the most significant overseas markets.