Second deal of the day, L Catterton, one of the world’s largest consumer-focused private equity firms has announced an investment of Rs 1894.50 crore in Jio Platforms, the digital and telecom arm of Reliance Industries Limited. This would get the equity firm a stake of 0.39 per cent in the Indian telecom arm. The valuation brings Jio Platforms to Rs 4.91 lakh crore in equity value and Rs 5.16 lakh crore in enterprise value.
Jio Platforms has so far attracted nine leading global investors including This includes Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, TPG and finally L Catterton. It has raised around Rs 104,326.95 crore by selling almost 22.38 per cent stake of the company.
L Catterton, which started its investment spree in 1989 has a 30-year track record. It has invested in some of the innovative brands in the consumer landscape including Peloton, Vroom, ClassPass, Owndays, FabIndia, and more.
“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,” commented Michael Chu, Global Co-CEO of L Catterton in a statement.
“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,” commented Mukesh Ambani, Chairman and Managing Director of RIL in a statement.