India’s Reliance Jio Platforms to sell $250 million stake to L Catterton – TipsClear

Talking about the Reliance Jio platform, the top Indian telecom operator said on Saturday that it had secured another investment. US private equity firm El Catterton will invest $ 250 million in Jio Platforms, becoming the ninth investor to return the Indian firm at the height of the global epidemic.

L. Catterton, Which has invested in several firms including the peloton, Vroom, Classpass, Ovendes And PVR Cinema said it would acquire a 0.39% stake in Jio platforms, taking the Indian firm’s value to $ 65 billion.

The announcement, after El Catterton, which makes Jio the ninth investor to back Jio in eight weeks, comes hours after the three-and-a-half-year-old telecom network sold a $ 600 million stake to TPG. Reliance Jio Platforms has now raised over $ 13.7 billion by selling about 22.3 shares to Facebook, Silver Lake, KKR, Vista Equity Partners, General Atlantic, Mubadala, Abu Dhabi Investment Authority, TPG. And L. Catterton.

“We look forward to partnering with Jio, which is positioned to execute its vision and mission to transform the country and create a digital society for 1.3 billion Indians through its unrivaled digital and technological capabilities.” Michael Chu, co-chief executive of El Catterton in a statement.

The boom of investors on Jio platforms, with over 388 million subscribers, reflects their growing interest in India’s telecom market. Media reports have claimed in recent weeks that Amazon is considering buying at least $ 2 billion worth of bets in India’s third-largest telecom operator, Bharti Airtel, while Google’s second-largest telecom operator, Vodafone Idea Negotiated for a similar deal.

More to follow…

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