Reliance Industries Limited (RIL) on Saturday said 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 Rs 5.16 lakh crore. This is the ninth investment for the company in the last seven weeks. "The investment will translate into a 0.93 per cent equity stake in Jio Platforms on a fully diluted basis for TPG," RIL said in an exchange filing on Saturday.
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.
Mukesh Ambani, Chairman and Managing Director of Reliance Industries,said, "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."
Jim Coulter, Co-CEOTPG, 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. Jiois 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."
Recently, Abu Dhabi government's global investment arm Abu Dhabi Investment Authority (ADIA) decided to invest Rs 5,683.50 crore in Jio for 1.16 per cent stake. Facebook, Silver Lake Partners (two investments), Vista Equity Partners, General Atlantic, KKR and Mubadala are others to have announced their investments in Jio. Of this, Facebook's deal of Rs 43,574 crore for 9.99 per cent stake is the largest so far in the company.