How Reliance’s Jio Platforms snapped 10 deals in 2 months

Reliance Industries has raised Rs 64.4 billion ($847 million) from the sale of two stakes in its digital unit Jio Platforms, making them the tenth deals in less than two months.

The oil-to-telecoms conglomerate said on Saturday global investment firm TPG will buy a 0.93% stake for Rs 4,546.80 crore ($598 million), while private equity firm L Catterton will pick up a 0.39% stake for Rs 1894.50 crore ($249 million).

Reliance, which is controlled by India’s richest man Mukesh Ambani, has now sold just over 22% of Jio Platforms to investors including Facebook Inc, securing $13.72 billion in eight weeks.