NewsInternationalTPG and L Catterton invests big in Jio Platforms to acquire 0.93%,...

TPG and L Catterton invests big in Jio Platforms to acquire 0.93%, 0.39% stake

Reliance industry

Mumbai- TPG and L Catterton invests 4,546.80 Crore and 1,845.45 Cr in Jio Platforms for 0.93% and 0.39% equity stake.

During the coronavirus pandemic when economies are going on recession. Jio is clicking all the right things, after Facebook, Silverlake, KKR and many other companies are roping in to invest in Jio Platforms.L Catterton is the tenth company to invest in Jio Platforms.

RIL, Reliance Industries Limited issued a statement regarding investment of TPG saying, “Reliance Industries Limited and Jio Platforms Limited, India’s leading digital services platform, announced today that global alternative asset firm TPG will invest Rs 4,546.80 Crore in Jio Platforms at an equity value of Rs 4.91 Lakh Crore and an enterprise value of Rs 5.16 lakh Crore”.

Global CEO of L Catterton said, “We are strong supporters of fostering growth through product development, enhanced digital capabilities and strategical alliances. We look forward to partnering with Jio, which is uniquely positioned to execute on its vision and mission to transform the country and build digital society for 1.3 Billion Indians through its unmatched digital and technical abilities”.

This is the tenth regular investment and Jio has raised Rs 1,02,432.45 Crore from leading  companies across the globe. Facebook invested nearly Rs 43,573 Cr, Silver Lake Rs 5,655 Cr, Vista Equity 11,367 Cr, Gen Atlantic Rs 6598 Cr, KKR Rs 11,367 Cr, Mubadala Rs 9094 Cr, AIDA Rs 5683 Cr and now TPG and L Catterton. This clearly shows the digital potential of India. In past 7 weeks 10 investors roped in to invest in Jio Platforms.

ALSO READ: KKR to acquire 2.32% stake in Reliance Jio for whooping investment of ₹11,637 Crore

L Catterton is global investor leading consumer focused brands around the world. L Catterton has rougly $20 Billion equity capital and have partnered with Pelotn, Vroom,Class Pass,Owndays, FabIndia and many more. Formed in 1989 it has made investment in more than 200 Brands.

TPG group is a global investment company focused on investing in Health Sector, Industrial Technology, media and telecommunications and many varied field.

Sourav Chakraborty
Trying to walk on the path of hard work to attain Success!!! Writer and Co-founder of InfotOnline

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