Jio Platforms
Jio Platforms
Dealstreet

10 Deals and a total of 1.04 Lakh Crore raised in Reliance Jio Platforms in 52 days - 3 Indian and 7 Foreign Law Firms involved

Pallavi Saluja

Reliance Industries digital arm Jio Platforms has raised 1.04 Lakh Crore in the last 52 days from nine investors.

On June 13, Jio Platforms got two news investors - TPG and L Catterton.

TPG is investing Rs. 4,546.80 crore in Reliance Industries digital arm Jio Platforms for 0.93% stake and PE firm L Catterton is investing Rs.1,895 crore for 0.39%.

Earlier this week, Abu Dhabi Investment Authority (ADIA) invested 5,863.50 crore for 1.16% stake.

AZB & Partners and Davis Polk & Wardwell acted for Jio Platforms on all three deals that got closed this week.

AZB & Partners team was led by Partners Ashwath Rau and Nilanjana Singh.

Davis Polk team was led by Partner Jeffrey O’Brien.

Shardul Amarchand Mangaldas & Co acted for all three investors - ADIA, TPG and L Catterton.

The SAM team was led by Partners Raghubir Menon, Sakshi Mehra and Natashaa Shroff. Partner Iqbal Khan also acted on TPG deal and Partner Roopal Kulrestha acted on L Catterton along with the core team of Partners.

Kirkland & Ellis acted for L Catterton and the team included Partners Michael Rackham, Daniel Dusek, Christopher Braunack and Jennifer Feng, along with Candice Kwok and Yusra Raheem.

3 Indian Law Firms and 7 Foreign Law Firms

10 Deals of Jio
10 Deals of Jio

AZB and Davis Polk represented Jio in all the 10 fundraisers helping Reliance raise Rs. 1,04,327 Crores (~$ 15 Billion) for a 22.38% stake.

AZB Mumbai has been the Indian law firm representing Reliance in most of the key transactions.

Davis Polk London office has been the Foreign law firm that has led all the deals completed by Jio. Davis Polk Partner Jeffrey O’Brien has been a go-to Partner for Reliance in all big deals including the recently concluded Joint Venture between BP oil.

Ashwath Rau and Jeffrey O'Obrien - Deal Makers for Reliance Jio
Ashwath Rau and Jeffrey O'Obrien - Deal Makers for Reliance Jio

The SAM team represented the 9 investors out of the 10 investments completed in the last 52 days, with only one deal being represented by Nishit Desai.

Almost all investors from Facebook to L Catterton (except Mubadala) were represented by the Raghubir Menon at Shardul Amarchand Mangaldas. Facebook's investment in Jio is hailed as the largest FDI ever for minority investment in India.

Raghubir Menon - Deal Maker for Shardul Amarchand Mangaldas
Raghubir Menon - Deal Maker for Shardul Amarchand Mangaldas

Deals since April, 2020

Earlier, Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR and Mubadala invested in Jio Platforms.

US social media major Facebook invested Rs. 43,574 crore (USD 5.7 billion) into Jio Platforms for a 9.99% stake.

Private Equity firm Silver Lake in the first round had invested Rs. 5,656 crores ($746.74 million) in Jio Platforms. In the second round, it invested another Rs 4,546.8 crores.

Private equity firm Vista Equity Partners has invested Rs. 11,367 crore for a 2.32% stake in Jio Platforms.

General Atlantic, US investment firm, will be investing ₹6,598.38 crore in Reliance owned Jio Platforms for 1.34% stake.

KKR, the global investment firm based in New York, is the fifth investor to invest Rs. 11,367 crores in Jio Platforms, the digital subsidiary of Reliance Industries Ltd for a 2.32% stake.

Abu Dhabi-based sovereign investor Mubadala Investment Company invested ₹9,093.60 crore in Jio Platforms to buy 1.85% stake.

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