RIL on Saturday evening announced that the US-based private equity firm TPG would invest Rs 4,547 crore in Jio Platforms for a 0.93% equity stake. With today’s announcement, Reliance Jio Platforms has been raised a total investment of over around Rs 1.02 lakh crore, by selling a combined 21.99% equity stake as well.
Reliance Jio added 2 more overseas investors to the long list of an equity investors who have put in over Rs 1 lakh crore now combined for a piece of Mukesh Ambani’s digital as well as telecom services venture. Reliance Industries Limited announced on Saturday evening that the US-based private equity firm the TPG would invest around Rs 4,547 crore for a 0.93% equity stake in Jio Platforms as well.
A few hours later, it has also been announced that consumer-focused private equity firm L Catterton will invest around Rs 1,895 crore for a further of about 0.39% equity stake in the company. With today’s 2 announcements, the Reliance Industries Ltd group has been raised a total investment of over Rs 1.04 lakh crore, by selling a combined of 22.28% equity stake in Jio Platforms.
Both TPG and the L Catterton investments are made at an equity value of around Rs 4.91 lakh crore for Reliance Jio Platforms, the similar as the other recent that investments by KKR, Abu Dhabi Investment Authority, and others.
In the last 7 weeks before today, RIL group has been raised nearly around Rs 98,000 crore for Jio Platforms from global firms including the social media giant Facebook, Silver Lake, KKR, Vista Equity Partners, General Atlantic, Abu Dhabi-based sovereign investor Mubadala, and Abu Dhabi Investment Authority.
Mark Zuckerberg’s Facebook acquired the largest share in Jio Platforms at about 9.99% equity stake. Private equity firms KKR, Vista Equity Partners, and also Silver Lake got a little over of 2% equity stake each in the Reliance group firm as well.