TPG capital to buy 0.9% stake in Jio Platforms for Rs 4,546.80 crore

Reliance Jio has attracted yet another investment from a global investor. Reliance Industries and Jio Platforms that global…

Reliance Jio has attracted yet another investment from a global investor. Reliance Industries and Jio Platforms that global alternative asset firm TPG will invest Rs 4,546.80 crore in Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of ₹ 5.16 lakh crore. The investment will translate into a 0.93% equity stake in Jio Platforms on a fully diluted basis for TPG. This is the ninth investment in Jio Platforms in seven weeks.

Jio Platforms since 22 April 2020 has raised Rs 102,432.45 crore from leading global technology investors including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, and TPG. TPG is making the investment from its TPG Capital Asia, TPG Growth, and TPG Tech Adjacencies (TTAD) funds.

TPG is a leading global alternative asset firm find in 1992 with more than $79 billion of assets under management across a wide range of asset classes, including private equity, growth equity, real estate and public equity.

Over TPG’s more than 25-year history, the firm has built an ecosystem made up of hundreds of portfolio companies and a value-added network of professionals, executives, and advisors around the world. Its investments in global technology companies include Airbnb, Uber, and Spotify, among others.

Mukesh Ambani, chairman and managing director of Reliance Industries, say: “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 impress 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.”

Jim Coulter, Co-CEO TPG, said: “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 unmatch potential and execution capabilities to the market, setting the tone for all technology companies to come.”

WHO IS TPG?

TPG is a leading global alternative asset firm founded in 1992 with more than $79 billion of assets under management across a wide range of asset classes, including private equity, growth equity, real estate and public equity. Over TPG’s more than 25-year history, the firm has built an ecosystem made up of hundreds of portfolio companies and a value-added network of professionals, executives, and advisors around the world. Its investments in global technology companies include Airbnb, Uber, and Spotify, among others.

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