Global alternative asset firm TPG has picked up a 0.93% stake in Jio Platforms at ₹ 4,564.8 crores becoming the 8th investor to pick up a minority stake in the subsidiary of Reliance Industries. The investment values Jio Platforms at an equity value of ₹ 4.91 lakh crore and an enterprise value of ₹ 5.16 lakh crore.
The stake sale in Jio Platforms has now raised over ₹ 102,432.45 Crore from leading global investors. Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubudala, ADIA, and TPG have picked up minority stakes in Jio Platforms since April 22, 2020 with Facebook picking up the biggest pie. The total stake sale in Jio Platforms now stands at 21.99%.
Jio Platforms Stake Sale – At a Glance
- Facebook – 9.99% (Rs 43,573.62 Crore)
- Silver Lake Partners – 1.15% (Rs 5,656.75 Crore)
- Vista Equity Partners – 2.32% (Rs 11,367 Crore)
- General Atlantic – 1.34% (Rs 6,598.38 Crore)
- KKR – 2.32% (Rs 11,367 Crore)
- Mubudala – 1.85% (Rs 9,093.6 Crore)
- Silver Lake Partners (Second Investment) – 0.93% (Rs 4,546.8 Crore)
- Abu Dhabi Investment Authority – 1.16% (Rs 5,683.5 Crore)
- TPG – 0.93% (Rs 4546.8 Crore)
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.”
“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. Jio is 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.”
Jim Coulter, Co-CEO TPG,
TPG has made the investment through its TPG Capital Asia, TPG Growth, and TPG Tech Adjacencies (TTAD) funds with the transaction subject to regulatory approvals. As with all stake sales, Morgan Stanley was the financial advisor for Reliance Jio with AZB & Partners, and Davis Pol & Wardwell acting as the legal counsel.