Jio Platforms to raise another Rs 6441.3 crore by selling stakes to TPG, L Catterton

NEW DELHI: Jio Platforms is set to raise another Rs6441.3 crore by selling a combined 1.32% to US private equity firms TPG and L Catterton. These are the eighth and ninth investors, respectively, to announce picking up stake in the Reliance Industries’ (RIL) telecom and digital business in seven weeks.

While TPG is set to invest Rs 4,546.80 crore in Jio Platforms for a 0.93% stake, L Catterton will invest another Rs1,894.50 crore to pick up 0.39%.

The investments peg Jio Platforms’ equity value at Rs 4.91 lakh crore and enterprise value at Rs 5.16 lakh crore. With the latest investments, parent Reliance Industries stands to get Rs 104,326.95 crore from the nine investors in exchange for 22.38% stake, the group said in a statement Saturday.