Jio platforms—world’s largest continuous fund raising
Jio Platforms has crossed Rs 1 lakh crore in the largest continuous ...
Jio Platforms has crossed Rs 1 lakh crore in the largest continuous funds raise by a company anywhere in the world with an unprecedented ninth investment in seven weeks with TPG Capital buying 0.93 per cent equity for Rs 4,547 crore. This is an unprecedented ninth investment in Jio Platforms in seven weeks since April 22. The investment is Rs 4,546.80 crore for a 0.93 per cent stake in Jio Platforms.
With this investment, Jio Platforms has raised Rs 1.02 lakh crore from leading technology investors, including Facebook, Silver Lake Partners (two investments), Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, and TPG. At Rs 1.02 lakh crore, it is the largest continuous funds raise by a company anywhere in the world. It assumes significance as this was done amidst a global lock-down, clearly signifying India’s digital potential and Jio’s business strategy.