TPG picks 0.93% stake in Jio for Rs 4,546.80 cr

Reliance Industries on Saturday said it has sold 0.93 per cent stake in its digital unit to global alternative asset firm TPG for Rs 4,546.80 crore, taking the cumulative fund raising to over Rs 1.02 lakh crore that will help pare debt at the oil-to-telecom conglomerate. "TPG will invest Rs 4,546.80 crore in Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore," the company said in a statement.