Will look for more digital, tech-driven investments in India, says Sanjay Nayar of KKR

KKR will be investing Rs 11,367 crore in Jio Platforms for a 2.32 percent stake. This is KKR's largest investment in Asia.

FP Staff May 22, 2020 15:57:51 IST
Will look for more digital, tech-driven investments in India, says Sanjay Nayar of KKR

US-based private equity company KKR said that it will look for more digital and technology-driven investments in India after the company announced a deal with RIL's Jio Platforms on Friday.

"There is no doubt... I think generally we will have to be looking for more digital and technology driven investments in a country like India where there is again, as I said, now behavioural change that is going to happen as there is a big push by the government for digitisation," said Sanjay Nayar, Partner and CEO of KKR in an interview with CNBC-TV18.

Jio Platforms has inked its fifth mega deal in a month. KKR will be investing Rs 11,367 crore in Jio Platforms for a 2.32 percent stake. This is KKR's largest investment in Asia.

Will look for more digital techdriven investments in India says Sanjay Nayar of KKR

Representative image. Reuters

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

"I am delighted to welcome KKR, one of the world’s most respected financial investors, as a valued partner in our onward march to growing and transforming the Indian digital ecosystem for the benefit of all Indians," said RIL Chairman Mukesh Ambani in a statement.

Will look for more digital techdriven investments in India says Sanjay Nayar of KKR

Representative image. Reuters

"KKR shares our ambitious goal of building a premier Digital Society in India. KKR has a proven track record of being a valuable partner to industry-leading franchises and has been committed to India for many years. We are looking forward to leveraging KKR’s global platform, industry knowledge and operational expertise to further grow Jio," he added.

(Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd which publishes Firstpos)

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