TPG, a global alternative asset company, has invested Rs 4,546.80 crore for a 0.93 per cent stake in Reliance Industries’ digital arm Jio Platforms. This is the ninth investment in Jio in the last eight weeks. With this, the combined investment in Jio has crossed Rs 1 lakh crore within 49 days.
The process of investment in Jio Platforms was not stopped. Reliance Industries has so far signed deals to sell 21.99 per cent stake in Jio Platforms, bringing the total to Rs 102,432.45 crore. The investment began on Facebook on April 22, followed by additional investments by Silver Lake, Vista Equity, General Atlantic, KKR, Mubadla and Silver Lake. The investment was also announced by the Abu Dhabi Investment Authority (ADIA) last Sunday.
On the occasion of this investment, Mukesh Ambani, Chairman and Managing Director of Reliance Industries said, “I am delighted to welcome TPG as an important partner today. Through a digital ecosystem that digitizes the lives of Indians our continued efforts to empower will be appreciated. We are impressed by TPG’s track record of investing in global technology businesses, which work with hundreds of millions of consumers and small businesses, and creating a better society. “
At the same time, co-CEO of the Global asset firm Jim-Colter said, “We are excited to partner with Reliance to invest in Jio as Jio is transforming India’s digital economy.”
TPG Has Been Working Worldwide
TPG is a leading global asset firm, founded in 1992 with over $ 79 billion in assets management. Which includes private equity, growth equity, real estate and public equity. TPG has built an extensive network of hundreds of portfolio companies worldwide over 25 years of history. Its investments in global technology companies include AirBnB, Uber and Spotify.