Jio Platforms, a wholly-owned subsidiary of Reliance Industries Limited (RIL), has got the necessary approvals for its stake sales to PIF, L Catterton, Silver Lake, and General Atlantic Singapore, and has received over Rs 30,000 crore for 6.13 percent stake.
“We hereby inform that, after receipt of all requisite approvals, Jio Platforms Limited, a subsidiary of the Company, received the subscription amounts from the following investors and allotted equity shares to them,” Reliance Industries Limited said. Notably, Interstellar Platform Holdings Pte Lte of L Catterton has paid nearly Rs 1,890 crore for a 0.39% stake in the wholly-owned subsidiary of RIL.
On the other hand, SLP Redwood Holdings and SLP Redwood Co-Invest (DE), L.P. (Silver Lake) have invested over ₹10,200 crores for a 2.08% share, while General Atlantic Singapore has picked up 1.34% in the telecom giant. Before this, Facebook’s Rs 43,574 crore has also come into the wholly-owned subsidiary of Facebook Inc. – Jaadhu Holdings LLC.
It is important to note that Mukesh Ambani’s Jio Platforms houses Reliance Industries Limited’s telecom business under Reliance Jio Infocomm, with around 400 million subscribers, besides other digital properties and investments.
Other investors in Jio Platforms include Abu Dhabi Investment Authority and Mubadala, TPG, Silver Lake, Vista Equity Partners, General Atlantic, KKR, L Catterton, and Intel Capital.