Deal Street

June 15, 2020

L Catterton invests Rs. 1895 crores in Jio Platforms; AZB & Partners acted as legal counsel for Reliance Jio

[ by Legal Era News Network ]


Reliance Industries Limited (“Reliance Industries”) and Jio Platforms Limited (“Jio Platforms”), announced an investment of Rs. 1894.50 crore by L Catterton on June 13, 2020.

L Catterton is one of the world’s largest consumer focused private equity firms. According to Michael Chu, Global Co-CEO of L Catterton, “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.”

According to a BSE Press Release, “This investment values Jio Platforms at an equity value of Rs. 4.91 lakh crore and an enterprise value of Rs. 5.16 lakh crore. L Catterton’s investment will translate into a 0.39% equity stake in Jio Platforms on a fully diluted basis.”

The AZB & Partners team comprised of Partners Ashwath Rau, Nilanjana Singh and Bharat Budholia.

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