MUMBAI: L Catterton, the world’s largest consumer-focused private equity firm, will invest Rs 1,894.50 crore in exchange for a 0.39 percent stake in Jio Platforms, a record tenth investment in the Reliance Industries (RIL) digital unit in seven weeks.
RIL, the oil-to-retail-to-telecom conglomerate, has now sold 22.38 percent stake in Jio and collected Rs 104,326.65 crore from some of the world’s top technology investors in the largest continuous fundraising by a company anywhere in the world.
The investment by L Catterton, which has made more than 200 investments in leading consumer brands, in Jio Platforms is at an equity valuation of Rs 4.91 lakh crore and an enterprise valuation of Rs 5.16 lakh crore. It comes in the span of a little less than two hours after private equity firm TPG invested Rs 4,546.80 crore for a 0.93 percent stake.
