Jio Platforms’ fund raising exceeds Rs1 trillion, RIL arm seals 2 more deals

NEW DELHI: Jio Platforms on Saturday announced two more stake sales, taking its total fund raising beyond the Rs1-trillion mark in less than 8 weeks. The company has now raised Rs1,04,326.95 crore from 10 investors by selling 22.38% equity of the company, according to a press release issued by the Mukesh Ambani company today.

The company will raise Rs4,546.80 crore from TPG against 0.93% stake sale and Rs1,894.50 crore against 0.39% to L Catterton, another private equity firm, according to two separate press releases issued today by the Reliance Industries Limited subsidiary.

L Catterton typically invests in fashion and retail companies, both at the heart of Jio Platforms’ ambitious plans as it morphs from a telecom company to an umbrella technology platform that also sells items for daily consumption.