L Catterton to invest Rs 1,894.50 crore in RIL’s Jio Platforms

L Catterton, one of the world’s largest consumer-focused private equity firms, will pick up a 0.39% stake for Rs 1894.50 crore in Reliance Industries Limited’s digital unit Jio Platforms.

This is an unprecedented tenth investment in Jio Platforms in seven weeks since April 22 this year. The oil-to-telecoms conglomerate raised a total of Rs 64.4 billion ($847 million) from the sale of two stakes in its digital unit Jio Platforms, the group said on Saturday.

It said global investment firm TPG will also buy a 0.93% stake in Jio for Rs 4,546.80 crore ($598 million).

Controlled by India’s richest man Mukesh Ambani, Reliance has now sold just over 22% of Jio Platforms to investors including Facebook Inc.