TPG to invest Rs 4,547 cr; Jio Platforms fund raising crosses Rs 1 trillion

Reliance Industries Limited (RIL) on Saturday announced sale of 0.93 per cent equity stake in its fully owned subsidiary, Jio Platforms to global alternative asset firm, TPG on a fully diluted basis for Rs 4,546.8 cr. The deal values Jio Platforms at an equity value of Rs 4.91 trillion and an enterprise value of Rs 5.16 trillion.

“With this investment, Jio Platforms has raised Rs 1.02 trillion from leading global technologyinvestors including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA,and TPGsince April 22,2020,” said RIL in a statement.

The TPG deal has come within a week of the sale of 1.16 per cent stake in Jio Platforms to Abu Dhabi Investement Authority for Rs 5,683.5 crores. That deal was announced on Sunday, 7 June, 2020.