Daily Tech News, Interviews, Reviews and Updates

TPG and L Catterton to buy stakes in Jio Platforms

The continuation of Reliance Industries Ltd’s investment in the Jio platform continues. On Saturday, two companies announced investments in the Jio platform. The Jio platform said that TPG, a global alternative asset firm, will invest Rs 4,546.80 crore in the Jio platform. The company has valued the equity value of the Jio platform at Rs 4.91 lakh crore and the enterprise value at Rs 5.16 lakh crore. With this investment, TPG will buy a 0.93 percent stake in the Jio Platform.

TPG is a leading global alternative asset firm. It was founded in 1992 with assets of over 79 billion dollars. Which includes private equity, growth equity, real estate, and public equity. The company has built an extensive network of hundreds of portfolio companies worldwide with over 25 years of history. Its investments in global technology companies include Airbnb, Uber, and Spotify.

Similarly, on Saturday, private equity firm L Catterton has also announced an investment in the Jio platform. L Catterton will invest Rs 1,894.50 crore in the Jio platform. With this amount, the company will buy a 0.39 percent stake in the Jio platform. The company has valued the equity value of the Jio platform at Rs 4.91 lakh crore and the enterprise value at Rs 5.16 lakh crore.

RIL Chairman Mukesh Ambani said about both these deals that he is happy to welcome TGP and L Catterton as important partners.

With this latest investment, the Jio platform has raised a total of Rs 1,04,326.95 crore since April 22, 2020. The Jio platform has raised this investment from leading technology investors, including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, ADAI, TPG, and L Catterton.

On April 22, Facebook announced the purchase of a 9.99 percent stake in RIL’s Jio platform for Rs 43,573.62 crore. After this, Silver Lake announced on May 3 to buy a 1.15 percent stake for Rs 5,655.75 crore. On May 8, Vista announced the purchase of a 2.32 percent stake in Jio Platforms for Rs 11,367 crore. After this, General Atlantic announced on May 17 to buy a 1.34 percent stake for Rs 6,598.38 crore. After this, KKR announced on May 22 to buy a 2.32 percent stake for Rs 11,367 crore.

Readers like you help support The Tech Outlook. When you make a purchase using links on our site, we may earn an affiliate commission. We cannot guarantee the Product information shown is 100% accurate and we advise you to check the product listing on the original manufacturer website. Thetechoutlook is not responsible for price changes carried out by retailers. The discounted price or deal mentioned in this item was available at the time of writing and may be subject to time restrictions and/or limited unit availability. Amazon and the Amazon logo are trademarks of Amazon.com, Inc. or its affiliates Read More
You might also like

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More