Extended Stake Sale: Jio Got Five More Investments

Reliance Jio continues its stake selling spree. The sale extends from April to May, now to June of 2020. 

The June 2020 phase is full of investors from UAE and United States, the list includes Mubadala Investment Company (Abu Dhabi, UAE), Abu Dhabi Investment Fund (ADIF) and American PE firms, TPG (based at Greenwich, Connecticut) and L Catterton (Texas based). Already invested, Silver Lake is also investing more money in Jio Platforms Ltd in June.

Date	Company	Investment	Stake acquired
April 21	Facebook	Rs 43, 574 Cr	9.9%
May 4	SilverLake	Rs 5,655.75 Cr	1.15%
May 8	Vista Equity	Rs 11,367 Cr	2.32%
May 17	General Altantic Partners	Rs 6598.38 Cr	1.34%
May 22	KKR & Co.	Rs 11,367 Cr	2.32%
June 4	Mubadala Investment Co	Rs 9,093.60 Cr	1.85%
June 7	Abu Dhabi Investment Fund (ADIF)	Rs 5683.50 Cr	1.16%
June 5	SilverLake	Rs 4,546.80 Cr	0.93%
June 13	TPG	Rs 4,546.80 Cr	0.93%
June 13	L Catterton	Rs1,894.50 Cr	0.39%

What are the leaders of those companies saying for Jio? Read below. 

Khaldoon Al Mubarak, Managing Director and Group CEO, Mubadala Investment Company, said, “We have seen how Jio has already transformed communications and connectivity in India, and as an investor and partner, we are committed to supporting India's digital growth journey. With Jio’s network of investors and partners, we believe that the platform company will further the development of the digital economy.”

Hamad Shahwan Aldhaheri, executive director of the private equities department at ADIA said, “The rapid growth of the business, which has established itself as a market leader in just four years, has been built on a strong track record of strategic execution.”

Jim Coulter, Co-CEO TPG, said, “Jio is a disruptive industry leader that is empowering small businesses and consumers across India by providing them with critical, high-quality digital services. The company is bringing unmatched potential and execution capabilities to the market, setting the tone for all technology companies to come.”

TPG is making the investment from its TPG Capital Asia, TPG Growth, and TPG Tech Adjacencies (TTAD) funds. TPG stands for Texas Pacific Group.

Michael Chu, Global Co-CEO of L Catterton, said, “Over our more than 30 year history, we have established a track record of building many of the most important brands across all consumer categories and geographies, from retailers, omni-channel and digitally native brands. We are strong supporters of fostering growth through product development, enhanced digital capabilities and strategic alliances. We look forward to partnering with Jio, which is uniquely positioned to execute on its vision and mission to transform the country and build a digital society for 1.3 billion Indians through its unmatched digital and technological capabilities.”