Friday, 24 March, 2023

TPG, L Catterton pick up 1.32% stake in Jio Platforms for Rs 6441.3 cr 

<p>Jio Platforms will raise another Rs 6,441.3 cr by selling a combined 1.32% to US private equity firms TPG (0.93%) and L Catterton (0.39%), eighth and ninth investments in the past seven weeks. RIL, after the latest investment, will get Rs 1,04,326.95 cr from the nine investors in exchange for 22.38% stake. The stake sales and the Rs 53,124 cr from a rights issue will meet its zero net-debt targets by March 2021.</p>