The latest deal with TPG has pushed Jio Platforms investment mop-up to over Rs 1 lakh crore.
TPG has become the latest company to join a marquee group of investors in Jio Platforms with an investment of over Rs 4,500 crore for a 0.93 percent stake in the company.
This has pushed Reliance’s digital unit’s investment mop-up to over Rs 1 lakh crore.
Here are five key things to know about the deal:
>TPG’s investment in Jio is Rs 4,546.80 crore for a 0.93 percent stake assigning it an equity valuation of Rs 4.91 lakh crore and an enterprise valuation of Rs 5.16 lakh crore.
> After including TPG’s investment, the total amount raised by Reliance in Jio Platforms now stands Rs 102, 432.15 crore
> Jio Platforms now joins the likes of Airbnb, Uber, Spotify in which TPG, which manages assets worth more than $119 billion, has invested in.
> TPG’s deal with Jio Platforms is the ninth investment deal done by Reliance in seven weeks after Facebook first bought a 9.99 percent stake on April 22.
>Jio has now sold 21.99 percent stake after including TPG's 0.93 percent stake purchase.Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.