After KKR, Silver Lake and General Atlantic, TG Capital may pick up stake in Reliance Jio

American investment company, TPG Capital is in advance stages of discussion with Mukesh Ambani-led Reliance Industries Limited to invest around USD 1-1.2 billion in Jio. Just last week, middle-eastern sovereign funds like Mubadala and Abu Dhabi Investment Authority (ADIA) had made their investment plan in the Jio Platforms public.

According to ET report, while investment worth USD 1-1.2 billion is discussed, there are chances that it could go as high as USD 1.5 billion. The PE fund, known primarily for leveraged buyouts, has been in talks for the past few weeks and is expected to be nearing a deal that might see it invest USD 1-1.2 billion, similar to the previous rounds in Jio Platforms, said the people mentioned earlier.

Post this deal, TG would join other American private equity firms KKR, Silver Lake and General Atlantic who picked up stakes in the Reliance Industries unit over the last two months.

Jio Platforms has already raised nearly USD 13 billion by stake sales of 21 per cent through eight transactions in seven weeks. These series of investments in the Jio Platforms by varied renowned private equities and other funds started after Facebook bought over 9 per cent stake in Jio Platforms.

TPG has invested in various organisations in India namely Bookmyshow, Campus Activewear, Cancer Treatment Service International, Dodla Dairy, Janalakshmi Financial Services, Manipal Hospitals, Lenskart Sai Life Sciences, Shriram Group, Sutures Group among others.

Source: The Free Press Journal

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