New York-based General Atlantic is likely to invest around Rs 100 billion for a two per cent stake in Jio Platforms, a wholly-owned subsidiary of Reliance Industries Limited (RIL).
As per industry sources, the deal may happen at a marginal premium of around 10 per cent to the recently fetched valuations of Jio.
General Atlantic and RIL have been in discussions on the matter for a while now.
Recently, Jio Platforms has attracted significant investments from several global players such as Facebook, Silver Lake Partners and Vista Equity Partners. While, Saudi Arabia’s Public Investment Fund (PIF) is reportedly considering to buy a minority stake in the company.