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

NEW DELHI: US Private equity firm TPG is set to invest Rs 4,546.80 crore in Jio Platforms for a 0.93% stake. This is the eighth investor to pick up stake in the Reliance Industries’ (RIL) telecom and digital business in seven weeks.

The investment pegs Jio Platforms’ equity value at Rs 4.91 lakh crore and enterprise value at Rs 5.16 lakh crore. With the latest tranche, parent Reliance Industries stands to get Rs 102,432.45 crore from the eight investors in exchange for 21.99% stake, the group said in a statement Saturday. “