Home News Reliance Jio gets Investment From two US Firms of worth Rs. 6,441.3...

Reliance Jio gets Investment From two US Firms of worth Rs. 6,441.3 crore

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Reliance Jio gets Investment on Saturday worth Rs. 6441.3 crores ($847 million) by selling some minority stakes to two US-based private equity firms. According to the company, the American investment firm, TPG, will buy a 0.93% stake for Rs. 4,546.80 crores ($598 million), while L Catterton will pick up a 0.39% stake for Rs. 1,894.50 crores ($249 million). The company had earlier raised Rs. 97,885.65 crores from seven global investors.

Mukesh Ambani Words after the deal

In a press release Mukesh Ambani, Chairman and Managing Director of Reliance Industries announced the deal and 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”

TPG Capital

Texas Pacific Group (TPG) Capital is a global investment firm that is founded in 1992. The private equity firm is focused on leveraged buyouts and growth capital. TPG manages investment funds in growth capitalventure capitalpublic equity, and debt investments. The firm invests in a range of industries including consume/retail, media and telecommunications, industrials, technology, travel, leisure, and healthcare. TPG is an investor in other high-profile companies, like Uber, Spotify, and Airbnb.

L Catterton

Catterton was founded in 1989 and has over $15 billion of equity capital across six fund strategies dedicated to growing middle-market companies and emerging high-growth enterprises. Since 1989, the firm has made more than 200 investments in brands across all segments of the consumer industry. L Catterton has backed companies like Peloton, ClassPass, and PVR Cinemas.

About Reliance Jio

Reliance jio is an Indian telecommunications company and subsidiary of Jio Platforms, headquartered in Mumbai, Maharashtra, India. It operates a national LTE network with coverage across all 22 telecom circles. It does not offer 2G or 3G service, and instead uses only voice over LTE to provide voice service on its 4G network.

Reliance Jio is the largest wireless carrier in India with more than 388 million subscribers. However, not only the telecom network but also the company’s digital services that are apparently attracting the attention of global investors. The company offers a number of apps for live TV, music streaming, movies, payments, news, and more.

Reliance Jio has now secured more than Rs. 102,432.45 crore ($13.7 billion) over the past few months by selling about a 22.3% stake to a number of global investors. Reliance Jio gets investment from various companies including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, and KKR. A couple of sovereign funds from the Abu Dhabi government, Mubadala and Abu Dhabi Investment Authority, also invested in the company recently.

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