Deal Street

June 16, 2020

TPG invests Rs. 4,546 crores in Jio Platforms; AZB & Partners assist Reliance Industries


Reliance-Jio

As the series of investments in Jio Platforms continue amidst the global pandemic, Reliance Industries and Jio Platforms announced on June 13, 2020, that 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.

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.”

Jim Coulter, Co-CEO TPG, said, “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.” AZB & Partners team comprising of Partners – Ashwath Rau, Nilanjana Singh and Bharat Budholia acted on the deal.

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