TPG Capital looks to invest up to $1.5 billion in Jio Platforms

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US Private equity company TPG capital is planning an investment proposal with Jio worth of $1.12 billion in Reliance Industries Limited (RIL) digital service arm. If the deal occurs TPG Capital would collaborate with the other US-based private equity companies like KKR, Silver Lake, and General Atlantic for acquiring the stake in Jio platforms. The company are being in the discussion for the past two weeks and most probably to sign the deal as soon and invests around $1.12 billion like the previous rounds in the Jio platform reported in the economic times. Apart from this Jio Platform has raised Rs 97,885.65 crore from major global investors including social media leading player Facebook, KKR, Mubadala, General Atlantic, and Abu Dhabi Investment Authority (ADIA) successively. On Friday ADIA has declared that they will invest Rs 5,683 crore with Jio platform for 1.16 percent stake where the eighth deal is less than seven weeks.

Many financial Analysts said that Mukesh Ambani RIL would attain its target of zero net debt in the present financial year. This is much more than the deadline set by Ambani in 2019. The public Investment Fund of Saudi Arabia is planning to acquire a stake in the Jio platform with an infusion of $1.15 billion in funds and the deal will be finalized within 7-10 days. Jio platform act as a catalyst for Reliance Industries Ltd (RIL) growth with more than 388 subscribers and also supports aggregate India’s fast-growing retail business to balance the fall in revenue in oil and petrochemicals mentioned in Financial daily. Jio has started its operation in the year 2016 and it has emerged as one of the leading players in the telecom sector both in terms of revenue as well as traffic.

TPG Capital carries or purchased many pure-play technology businesses, includes McAfee, Avaya, First Data, Free scale Semiconductor, and Wind River. General Atlantic Company is planning to invest 6600 crores in the Jio platform for a 1.34% stake in Jio Platforms. The investment has an equity value of 4.91 lakh crore and an enterprise value of 5.16 lakh.

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