Reliance Industries receives Rs 30,000 cr from for 4 Jio Platform investors; closes 6.13% stake sale

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Updated: Jul 11, 2020 12:17 PM

In a regulatory filing, Reliance said it has closed sale of 6.13 per cent stake in Jio Platforms with L Catterton, The Public Investment Fund, Silver Lake and General Atlantic.

Reliance Industries, Jio Platform investors, L Catterton, The Public Investment Fund, silver lake, Facebook Inc, latest news on reliance industriesReliance had sold a total of 25.09 per cent stake in the subsidiary which houses India’s youngest but largest telecom firm, Jio, to 11 investors for Rs 1,17,588.45 crore.

After Facebook Inc, Reliance Industries has closed deals to sell a minority stake in its digital arm to four other investors, receiving a total of over Rs 30,062 crore. In a regulatory filing, Reliance said it has closed sale of 6.13 per cent stake in Jio Platforms with L Catterton, The Public Investment Fund, Silver Lake and General Atlantic.

Reliance had sold a total of 25.09 per cent stake in the subsidiary which houses India’s youngest but largest telecom firm, Jio, to 11 investors for Rs 1,17,588.45 crore. It had earlier this week closed the deal with the biggest investor Facebook when it received Rs 43,574 crore from Jaadhu Holdings, LLC (a wholly owned subsidiary of Facebook Inc).

“Jio Platforms Ltd has allotted equity shares to Jaadhu Holdings following which Jaadhu Holdings holds 9.99 per cent of the fully diluted equity share capital of Jio Platforms Ltd,” the company had said on July 7.

Now, Interstellar Platform Holdings Pte Lte of L Catterton has paid Rs 1,894.50 crore for a 0.39 per cent stake in Jio Platforms. The Public Investment Fund paid Rs 11,367 crore for a 2.32 per cent stake while Silver Lake units — SLP Redwood Holdings Pte Ltd and SLP Redwood Co-Invest (DE), L.P. — have bought 2.08 per cent stake for Rs 10,202.55 crore.

General Atlantic Singapore JP Pte Ltd has bought 1.34 per cent for Rs 6,598.38 crore. “We hereby inform that, after receipt of all requisite approvals, Jio Platforms Limited, a subsidiary of the company, received the subscription amounts” from the four investors, it said.

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