Jio fundraising tops Rs. 1 trillion as TPG, L Catterton invest Rs. 6,441 cr.

Reliance Industries (RIL) recently announced that it had sold a 0.93 per cent stake in Jio Platforms to global investment firm TPG for Rs. 4,547 crore and 0.39 per cent to private equity firm L Catterton for Rs. 1,894 crore, taking the total investment in the digital services platform to Rs. 1.04 trillion.

With these investments, RIL has sold over 22 per cent in Jio Platforms. The valuation of the deals is in line with recent transactions pegging Jio’s equity value at Rs. 4.91 trillion and enterprise value at Rs. 5.16 trillion. Jio has so far concluded deals with global investors including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, TPG, and L Catterton in less than two months.

Mukesh Ambani, chairman and managing director of RIL, said he was happy to welcome TPG and L Catterton as valued investors “in our continued efforts towards digitally empowering the lives of Indians through the creation of a digital ecosystem”.

BS