InvestorQ : How much as Reliance finally managed to sell in Jio Platforms after the two recent deals over the weekend?
Neelam Naik made post

How much as Reliance finally managed to sell in Jio Platforms after the two recent deals over the weekend?

Answer
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diksha shah answered.
3 months ago


There appears to be no respite in PE funds and sovereign funds taking a stake in Jio Platforms, the digital arm of Reliance Industries. The saga continued for Jio this week with TPG and L. Catterton taking a stake in Jio Platforms. While TPG took a 0.93% stake in Jio Platforms for $598 million, Catterton takes a 0.39% stake for $249 million. Both these investments have assigned a valuation of $65 billion to Jio Platforms. That corresponds with the valuation at which the other PE and sovereign funds have invested in Jio Platforms. With this latest investment done and dusted, Reliance has placed 22.38% stake in Jio Platforms with a clutch of 9 global investors for an overall consideration of Rs.1,04,000 crore. For the Reliance group, this is an important step towards becoming a zero net-debt company.