TPG and L Catterton to buy stakes in JIO
The TPG has decided to invest 4,546.80 crores in JIO platforms for around 0.93% stakes, Along with the TPG the L Catterton is going to invest around Rs1, 894.50 crores to buy 0.39% stakes. By this, the JIO platform is ready to raise funds worth Rs 6441.3 crore by selling stakes of 1.32% to TPG and L Catterton.
- TPG is the eighth investor to invest in this Indian giant
- L Catterton will be the ninth one to invest in JIO
- TPG is one of the leading global alternative asset firms it was founded in 1992
- The TPG is Making Investments through its TPG capital, TPG growth, TPG Tech Adjacencies Funds.
- The investments by this new company will really help in bringing a positive and stable environment in the market
- L Catterton has already invested and helped to build some of the most renowned brands like Vroom, ClassPass, Peloton, Owndays, FabIndia, etc.
Abu Dhabi Investment Authority and Mubadala, Abu Dhabi’s two largest sovereign investment arms have already invested in Reliance Apart from TPG and L Catterton other investor firms being Silver Lake, Vista Equity Partners, General Atlantic, and KKR, Facebook has picked up the largest stake of 9.99% for nearly Rs44,000 crore.
Month: Current Affairs - June, 2020