TPG Capital looks to invest $1.5 billion in Jio Platforms

TPG Capital

TPG Capital, a US private equity company, will be putting $1-1.5 billion into Reliance Industries’ (RIL) digital services arm in negotiations with Jio Platforms. If an agreement is reached, TPG will acquire Jio platforms with other US private equity major firms, KKR, Silver Lake, and General Atlantic.
TPG capital has been under discussion for the past few weeks and is probably soon to enter into an agreement which could lead to an investment of approximately 1-1.2 billion dollars, as was the case in the previous rounds in Jio Platforms, reported the ET. One said that the injection of the fund would amount high as much as 1.5 billion dollars.

Jio Platforms has rapidly increased its investment of Rs 97,885,65 from leading global investors including Twitter, Silver Lake, Vista Equities Partners, General Atlantic, KKR, Mubadala, ADIA. Last Friday, ADIA revealed its investment in Jio Platforms as 5,683.50 crores, representing 1.16 percent, the eighth in less than seven weeks.

Many analysts believe that Mukesh Ambani’s RIL will meet its zero net debt target in the present calendar year. Ambani had set a deadline of 2019 before March 2021.

With over 388 million subscribers, Jio funds the rapidly widening distribution business of the conglomerate in order to compensate for the decline in the financial day’s oil and petrochemical revenues. Launched in 2016, Jio became both in terms of traffic and revenues, the number one telecom company in India.
TPG Capital has funded or purchased other pure play technology companies including McAfee, WindRiver, Avaya, and First Data.

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