TPG said it is acquiring a 0.93% stake in Jio Platforms, giving the Indian firm a valuation of $65 billion.
Reliance Jio Platforms, which has amassed over 388 million subscribers, has secured $13.49 billion by selling nearly 22% stake in the company to Facebook, Silver Lake, KKR, Vista Equity Partners, General Atlantic, Mubadala, Abu Dhabi Investment Authority, and TPG.
Jio is a disruptive industry leader that is empowering small businesses and consumers across India by providing them with critical, high-quality digital services.
Pankaj Jain, a high-profile angel investor, told TechCrunch that Jio Platforms’ digital services suite has helped it attract foreign investors.
Update: Jio Platforms has secured another investment: This time L Catterton, which is pouring $250 million for a 0.39 stake in the company.

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