L Catterton And Jio Platforms Investment Deal: Things You Need To Know

Reliance Industries Limited and Jio Platforms Limited on Saturday announced an investment of Rs 1894.50 crore by L Catterton, one of the world's largest consumer-focused private equity firms.

With this investment, Jio Platforms has raised Rs 104,326.95 crore from leading global investors including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, TPG and L Catterton since April 22.

The key features of the deal are:

A proclamation was made after conglomerate declared that the US-based TPG, a global alternative asset firm, will lay hold of 0.93 per cent stake in Jio Platforms for Rs 4,5476.80 crore.

L Catterton, founded in 1989, is investment partner of choice for leading consumer-focused brands around the world, according to the press statement. With a 30-year track record of leveraging its operational expertise, deep sector insights, global network of resources, and its unique partnership with LVMH and Groupe Arnault, L Catterton has successfully invested in and helped build some of the most innovative brands at the forefront of the evolving consumer landscape, including Peloton, Vroom, ClassPass, Owndays, FabIndia, and more.

The Reliance Industries has so far traded a total of 22.38 per cent stakes in Jio Platforms.

With an investment of Rs 1,894.50 crore in exchange of 0.39 per cent stakes, it has been assigned with an equity valuation of Rs 4.91 lakh crore and enterprise valuation of Rs 5.16 lakh crore.

L Catterton, has roughly $20 billion of equity capital access in Peloton, Vroom, ClassPass, Owndays, FabIndia across seven fund strategies in 17 offices globally, Jio Platforms are all set to join this.

The deal with L Catterton has hoisted a total of Rs 1,04,326.95 crore from the global technology investors, which includes US-based Facebook, Silver Lake and General Atlantic, and Abu Dhabi-based Mubadala and Abu Dhabi Investment Authority (ADIA).

Mukesh Ambani said, “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.” Addition to this, he also said, “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,”

Global Co-CEO of L Catterton, Michael Chu, said, “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, omnichannel 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.”

Jio has nearly 400 million and has been providing high quality and affordable services all over India. A next-generation technology platform, Jio has made remarkable investments all across the world in the digital ecosystem.

(With Inputs From ANI)