May 17, 2020 / 12:44 PM / 20 days ago

India's Reliance says General Atlantic to invest $870 mln in digital unit

NEW DELHI, May 17 (Reuters) - Indian conglomerate Reliance Industries said on Sunday equity firm General Atlantic will buy 1.34% of its digital unit for 65.98 billion rupees ($870.25 million).

With this investment, Jio Platforms, which houses Reliance’s digital businesses including telecoms unit Jio Infocomm, has raised a total of 671.94 billion rupees from investors including Facebook Inc, Silverlake and Vista Equity Partners in four weeks.

$1 = 75.8170 Indian rupees Reporting by Abhirup Roy and Sankalp Phartiyal; editing by Emelia Sithole-Matarise

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