Two US-Based Investors TPG Global And L Catterton To Invest Rs 6441.3 Crores In Jio Platforms

In yet another investment pull, Mukesh Ambani led Jio Platforms is set to raise another Rs 6441.3 crores by selling a combined 1.32 per cent stake to US-based private equity firms TPG Global and L Catterton, reports Economic Times.

Of the two, TPG Global will be writing a cheque of Rs 4,546.80 crore for a 0.93 per cent stake in Jio Platforms, while L Catterton will invest Rs 1,894.5 crore to pick up 0.39 per cent stake in the company which has drawn more than a lakh crore worth foreign investments into it in less than a month.

The two investments have valued the company's equity value at Rs 4.91 lakh crore and the enterprise value at Rs 5.16 lakh crore.

With the latest investments, the total number of foreign investors which have backed up Jio Platforms over the past month has risen to nine, enabling the firm to raise a total of Rs 1,04,326.95 crore in exchange of 22.38 per cent stake.

The funds thus generated, along with the funds amassed from the record Rs 53,124 crore rights sale will help the company achieve its self-placed goal to become a zero net-debt company by March 2021.