TPG to invest Rs 4,546.80 Cr in Jio Platforms for 0.93% equity stake

Reliance Industries on Saturday, June 13, anunced that global alternative asset firm TPG will invest ₹ 4,546.80 crore in ir digital unit-Jio Platforms. investment will be at an equity value of ₹ 4.91 lakh crore and an enterprise value of ₹ 5.16 lakh crore. For TGP this investment will translate into a 0.93% equity stake in Jio Platforms on a fully diluted basis.

"With this investment, Jio Platforms has raised ₹ 102,432.45 crore from leing global techlogy investors including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubala, IA, and TPG since April 22, 2020", company said in a statement.

vision of Jio Platforms is to enable a Digital India for 1.3 billion people and businesses across country. This includes small merchants, micro-businesses, and farmers so that all can enjoy results of inclusive growth, release said.

Mukesh Ambani, Chairman and Managing Director of Reliance Industries, expressed his happiness over investment and welcomed  investors.

“Today, I am happy to welcome TPG as valued investors in our continued efforts towards digitally empowering lives of Indians through creation of a digital ecosystem. We have been impressed by TPG’s track record of investing in global techlogy businesses which serve hundreds of millions of consumers and small businesses, making societies we live in better," Ambani said.

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Jim Coulter, Co-CEO TPG asserted that his company is excited to play an early role in Jio's journey as y continue to transform and vance India's digital ecomy.

“We are excited to partner Reliance to invest in Jio. As an investor in growth, change, and invation for over 25 years – and with a longstanding presence in India -- we are excited to play an early role in Jio's journey as y continue to transform and vance India's digital ecomy," Coulter said.

ding furr TPG Co-CEO said, "Jio is a disruptive industry leer that is empowering small businesses and consumers across India by providing m with critical, high-quality digital services. company is bringing unmatched potential and execution capabilities to market, setting tone for all techlogy companies to come."

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About investor-TGP

Founded in 1992,  leing global alternative asset firm TPG has more than $79 billion of assets under manment across a bro range of asset classes. This includes private equity, growth equity, real estate and public equity.

firm has built an ecosystem me up of hundreds of portfolio companies and a value-ded network of professionals, executives, and visors around world in its 25-year history. TGP's major investment in global techlogy companies includes Airbnb, Uber, Spotify, and many more.

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