L Catterton invests Rs 1,895 crore in Reliance Jio Platforms

TIL Desk/Business/New Delhi/ Reliance Industries Limited (RIL) and Jio Platforms Limited, Indias leading digital services platform, on Saturday announced an investment of Rs 1894.50 crore by L Catterton, one of the worlds largest consumer focused private equity firms.

This investment values Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore. This is the second transaction announced on Saturday within hours as earlier TPG had acquired equity in Jio.

L Catterton’s investment will translate into a 0.39 per cent equity stake in Jio Platforms on a fully diluted basis. The fund has a deep consumer understanding which is expected to bolster Jio’s tech initiatives for Indian consumers.

With this investment, Jio Platforms has raised Rs 1.04 lakh crore from leading global investors including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, TPG and L Catterton since April 22.