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Reliance Jio Platforms gets 9th investor

On Saturday evening Reliance Industries and Jio Platforms announced that US-based alternative asset firm TPG would be buying a 0.93% equity stake in Jio Platforms on a fully diluted basis. 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 Rs. 5.16 lakh crore.

This is the ninth investment in Jio Platforms in recent weeks. With this investment, Jio Platforms 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 since April 22, 2020.

So far, Facebook has picked up a majority stake at 9.99%, in a transaction is valued at Rs 43,573.62 crore. Other investors include US-based private equity firm Vista Equity Partners which announced in May that it will pick up a 2.32% stake and Abu Dhabi-based Mubadala Investment which picked up 1.85%. American global investment firm, KKR & Co, has bought 2.32 per cent stake for Rs 11,367 crore, and General Atlantic has announced investment of Rs 6,598.38 crore in Jio by picking up a 1.34% stake in the platform.

Source:Free Press Journal

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