TGP picks up 0.93 per cent in Reliance Jio for Rs 4,546 crore

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.

Written by FE Bureau

June 14, 2020 03:45 IST

According to sources, the company applied for lab testing a couple of weeks back, as DoT has not taken a decision regarding 5G field trials

Reliance Industries and Jio Platforms on Saturday said 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. The investment will translate into a 0.93% equity stake in Jio Platforms on a fully diluted basis for TPG.

TPG is a leading global alternative asset firm founded in 1992 with more than $79 billion of assets under management across a wide range of asset classes, including private equity, growth equity, real estate and public equity. Over TPG’s more than 25-year history, the firm has built an ecosystem made up of hundreds of portfolio companies and a value-added network of professionals, executives, and advisors around the world.
Its investments in global technology companies include Airbnb, Uber, and Spotify, among others.

This article was first uploaded on June fourteen, twenty twenty, at forty-five minutes past three in the night.