L Catterton to invest Rs 1894.50 crore in Reliance Industries’ arm
15th Jun 2020

L Catterton is planning to invest Rs 1894.50 crore in Jio Platforms, a wholly-owned subsidiary of Reliance Industries, at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore. The investment will translate into a 0.39% equity stake in Jio Platforms on a fully diluted basis. With this investment, Jio Platforms has raised Rs 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, 2020.

Jio Platforms is a next-generation technology platform focused on providing high-quality and affordable digital services across India, with more than 388 million subscribers. Jio Platforms has made significant investments across its digital ecosystem, powered by leading technologies spanning broadband connectivity, smart devices, cloud and edge computing, big data analytics, artificial intelligence, Internet of Things, augmented and mixed reality and blockchain.

Reliance Industries is India’s largest private sector company. The company’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and 4G digital services.