TPG, a leading global alternative asset firm, will invest Rs 4,546.80 crore for a 0.93 percent stake in Jio Platforms. TPG has already invested in big companies like Airbnb, Uber and Spotify. Reliance Industries fundraising now crossed Rs. 1 lakh crore.
It is the ninth investment deal in seven weeks and this marks a company’s largest continuous fundraising activity anywhere in the world. In a series of investment deals, Reliance Industries Limited has now sold 21.99 percent stake in Jio Platforms and raised Rs. 1,02,432.45 crore.
All investments were finalized in the middle of a global lockdown, a reference to the immense digital potential of India, and a clear affirmation of Jio’s aggressive policy, tech skills, transformative corporate structure, and structural long-term growth prospects.
Today, I am happy to welcome TPG as valued investors in our continued efforts towards digitally empowering the lives of Indians through the creation of a digital ecosystem. We have been impressed by TPG’s track record of investing in global technology businesses which serve hundreds of millions of consumers and small businesses, making the societies we live in better. Mukesh Ambani (Reliance Industries)
Investment by TPG’s comes at an equity valuation of Rs. 4.91 lakh crore and enterprise valuation of Rs. 5.16 lakh crore. This investment is followed by the investment of ADIA of a 1.16 percent stake for Rs 5,683.5 crore on June 7.
Facebook bought a 9.99 percent stake for Rs. 43,574 crore on April 22 which started the series of investments in Jio Platforms. After that, General Atlantic, Silver Lake (two investments), Vista, KKR and Mubadala have also spent their capital in Jio.
We are excited to partner Reliance to invest in Jio. As an investor in growth, change, and innovation for over 25 years – and with a longstanding presence in India — we are excited to play an early role in Jio’s journey as they continue to transform and advance India’s digital economy. Jio is a disruptive industry leader that is empowering small businesses and consumers across India by providing them with critical, high-quality digital services. The company is bringing unmatched potential and execution capabilities to the market, setting the tone for all technology companies to come. Jim Coulter (Co-CEO, TPG)
With nearly 400 million subscribers, Jio Platforms is a next-generation technology platform focused on providing high-quality, affordable digital services across India.
Jio has made substantial investments through its digital ecosystem, powered by leading mobile networking technology, smart apps, edge and cloud technology, big data analytics, AI, IoT, virtual / augmented reality and blockchain.
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