Jio Platforms Limited has received an investment of ₹1,894.50 crore from L Catterton, a consumer focused private equity firms. This is the tenth fund raising by Jio Platform since April. L Catterton’s investment will translate into a 0.39 per cent equity stake in Jio Platforms
This investment values Jio Platforms at an equity value of ₹4.91 lakh crore and an enterprise value of ₹5.16 lakh crore. With this investment, Jio Platforms has raised ₹104,326.95 crore from leading global investors including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, TPG and L Catterton since April 22.
Founded in 1989,
Mukesh Ambani, Chairman and Managing Director of Reliance Industries, said, “I am delighted to welcome
Michael Chu, Global Co-CEO of L Catterton, said, “Over our more than 30 year history, we have established a track record of building many of the most important brands across all consumer categories and geographies, from retailers, omni-channel and digitally native brands. We are strong supporters of fostering growth through product development, enhanced digital capabilities and strategic alliances.”
Morgan Stanley acted as financial advisor to Reliance Industries and AZB & Partners and Davis Polk & Wardwell acted as legal counsels.
With plans to raise funds totalling ₹1.62-lakh crore by December, RIL will emerge net-debt free by the end of this calendar year, much ahead of its own earlier estimates of debt-free by March 2021.
READ THE STORY: Reliance Industries to be debt-free by year-end
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