23rd September 2023

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Jio Platform – TPG Deal

Reliance Industries' Jio Platforms digital unit attracted yet another investment from global investment firm TPG and PE L Catterton. Thanks to these investments, the mega telecommunications company has so far raised Rs.1.04 crore lakh and sold a 22.38% stake. TPG will invest rupees. Rs 4,546.80 million on Jio platforms with a capital of Rs. 4.91 crore de lakh and a commercial value of Rs. 5.16 crore de lakh. The investment will result in a 0.93% interest in Jio Platforms on a fully diluted basis for TPG.

TPG is a leading global alternative asset company founded in 1992 with more than $ 79 billion in assets under management in a wide range of asset classes, including private equity, growth stocks, real estate and public stocks.

During its more than 25 years of existence, TPG has created an ecosystem of hundreds of portfolio companies and a network of value-added professionals, executives and advisers worldwide. Their investments in global tech companies include Airbnb, Uber, and Spotify, among others. TPG invests in its funds TPG Capital Asia, TPG Growth and TPG Tech Adjacencies (TTAD).

RIL's fundraising journey so far

  • On 22 April, social media giant Facebook announced investment of Rs.43,574 crore into Jio Platforms, the investment will translate into a 9.99 per cent equity stake in Jio Platforms, the largest FDI in the Indian tech sector.
  • On 8 May, US-based private equity firm Vista Equity Partners will buy a 2.32 per cent stake in billionaire Mukesh Ambani's digital unit for Rs.11,367 crore.
  • Silver Lake, one of the world's largest tech investors, agreed to invest Rs. 5,655.75 crore to buy a 1.15 per cent stake in Jio Platforms.
  • On 17 May, General Atlantic, the US investment firm that helped fund Airbnb Inc. and Uber Technologies Inc, has picked up 1.34 per cent stake in the digital unit of Reliance Industries for Rs. 6,598.38 crore.
  • In May, Reliance Industries had announced sale of a 2.32 per cent stake in its digital unit to the US-based private equity giant KKR for Rs.11,367 crore.
  • On 5 June, Mubadala Investment Company, the Abu-Dhabi based sovereign investor, will invest Rs.9,093.60 crore into Jio platforms. Mubadala's investment will translate into a 1.85 per cent equity stake on a fully diluted basis.
  • On 5 June, private equity fund Silver Lake invested another Rs. 4,546.80 crore for additional 0.93 per cent stake in Jio Platforms.
  • Abu Dhabi Investment Authority () has taken 1.16 per cent equity stake in Jio Platforms for Rs.5,683.5 crore.
  • On 13 June, Reliance Industries has sold a 0.93 per cent stake in Jio Platforms to global alternative asset firm TPG for Rs.4,546.80 crore.
  • On 13 June, L Catterton, one of the world's largest consumer focused private equity firms, said it will invest Rs.1894.50 crore, translating into a 0.39 per cent equity stake in Jio Platforms on a fully diluted basis.
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