L Catterton, world’s largest consumer-focused private equity firm, will invest Rs. 1,894.50 crore for a 0.39 percent stake in Jio Platforms. In its 30 years in business, private equity company L Catterton has made over 200 investments in leading consumer brands.
It is the record tenth investment deal in seven weeks and this marks a company’s largest continuous fundraising activity anywhere in the world. In a series of investment deals, Reliance Industries Limited has now sold 22.38 percent stake in Jio Platforms and raised Rs. 1,04,326.95 crore.
All investments were finalized in the middle of a global lockdown, a reference to the immense digital potential of India, and a clear affirmation of Jio’s aggressive policy, tech skills, transformative corporate structure, and structural long-term growth prospects.
I am delighted to welcome L Catterton as a partner in our journey to unleash the power of digital for India while providing a consumer experience that is among the best in the world. I particularly look forward to gaining from L Catterton’s invaluable experience in creating consumer-centric businesses because technology and consumer experience need to work together to propel India to achieving digital leadership. Mukesh Ambani (Reliance Industries)
Investment by L Catterton’s comes at an equity valuation of Rs. 4.91 lakh crore and enterprise valuation of Rs. 5.16 lakh crore. This investment is followed by the investment of TPG of a 0.93 percent stake for Rs 4,546.80 crore which happened a few hours ago.
Facebook bought a 9.99 percent stake for Rs. 43,574 crore on April 22 which started the series of investments in Jio Platforms. After that, General Atlantic, Silver Lake (two investments), Vista, KKR, Mubadala, ADIA and TPG have also spent their capital in Jio.
Over our more than 30 year history, we have established a track record of building many of the most important brands across all consumer categories and geographies, from retailers, omni-channel and digitally native brands. We are strong supporters of fostering growth through product development, enhanced digital capabilities and strategic alliances. We look forward to partnering with Jio, which is uniquely positioned to execute on its vision and mission to transform the country and build a digital society for 1.3 billion Indians through its unmatched digital and technological capabilities. Michael Chu, Global Co-CEO, L Catterton
With nearly 400 million subscribers, Jio Platforms is a next-generation technology platform focused on providing high-quality, affordable digital services across India.
Jio has made substantial investments through its digital ecosystem, powered by leading mobile networking technology, smart apps, edge and cloud technology, big data analytics, AI, IoT, virtual / augmented reality and blockchain.
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