Second PE deal in two weeks; valuation same at Rs 4.2 trillion
From KKR-Reliance deal, residential property deals on the slide to passage of labour reform bills, Business Standard brings you top news of the evening
This marks the second investment by KKR in a Reliance subsidiary following Rs 11,367 crore-investment in Jio Platforms announced earlier this year
With KKR already said to be in talks for a $1 bn investment, other investors like Abu Dhabi Investment Authority and Mubadala could be next in line
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Silver Lake Partners reportedly eyeing stake worth $1 billion in Reliance Retail
Despite the opportunities, KKR has suffered setbacks in India, where a long-running shadow banking crisis followed by the devastation of the pandemic has crippled the economy
The total deal size thus will be around $500 mn or around Rs 3,750 crore
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Here's a timeline of Reliance Jio Platforms' six mega investment deals with foreign players and one additional commitment announced since April 22, 2020
This is the 10th investment in Reliance Jio in nine weeks
This is the eighth deal announced by RIL in the last two months
Morgan Stanley is likely to be appointed the lead banker to manage the overseas listing, while Bank of America Merrill Lynch and Citibank may also be roped in for the IPO, another source informed.
Capital, Bharti Infratel, Coffee Day Resorts and Max Financial Services, this is its largest investment in Asia
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Total Rs 78,562 crore invested in recent weeks that value Jio Platforms for an equity value of Rs 4.91 trillion and an enterprise value of Rs 5.16 trillion
A total of 25 companies including Alembic Pharmaceuticals, IDFC First Bank, and UPL, are scheduled to announce their March quarter earnings later in the day
Talks are still in advanced stage with KKR, say bankers
Sources have said KKR has also expressed an interest in buying a minority stake in TIM's last-mile network
The schools run by Galileo include the Paris School of Business (PSB), Macromedia University in Germany and Italian fashion school Istituto Marangoni