US-based company, L Catterton will invest 1,895 Cr rupees in Reliance Industries digital services arm Jio Platforms which will amount to 0.39 percent of the companies total stake. The announcement came hours after the conglomerate said US-based TPG, a global alternative asset firm, will take a 0.93 per cent stake in Jio Platforms for Rs 4,546.80 crore.
With this deal Catterton becomes the tenth MNC to invest huge in Jio Platforms – which houses the billionaire Mukesh Ambani-led Reliance Industries’ telecoms arm Reliance Jio Infocomm,within just eight weeks. Jio Platforms has raised a total Rs 1,04,326.95 crore from global technology investors, including US-based Facebook, Silver Lake and General Atlantic, and Abu Dhabi-based Mubadala and Abu Dhabi Investment Authority (ADIA).
Both transactions value Jio Platforms at an equity value of Rs 4.91 lakh crore, and an enterprise value of Rs 5.16 lakh crore, Reliance Industries said in a statement.
Reliance Industries has so far sold a total 22.38 per cent stake in Jio Platforms for Rs 1,04,326.95 crore since April 22.
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