The top Indian Telecom operator said that Reliance Jio Platforms promised additional investment on Saturday. L Catterton, a US private equity firm, is investing $250 million, 0.39% of the Jio Platforms, making it the ninth-largest investment firm to support the Indian company during a worldwide pandemic. Over the years, L Catterton, a corporation known for investing in consumer technologies, has funded hundreds of new and developed businesses

The news, which makes L Catterton the ninth investor in 8 weeks to help Jio, arrives hours after the telecom network, which is 35 years old, has said that it sold TPG $600 million in equity. Jio Platforms, like TPG, is worth $65 billion for new investment. Reliance Jio Portals has raised over 13.7 billion dollars in the past 8 weeks by selling approximately 22.3 shares to Facebook, Silver Lake, the KKR, Vista Equity Partners, General Atlantic, Mubadala, TPG, and L Catterton.

In a statement, Michael Chu, co-chair of L Catterton, said that we look forward to partnering with Jio that is in a unique position to implement his vision and mission in transforming the country and building the digital society for over 1.3 billion Indians. The volatility of Jio Platform investors with more than 388 million subscribers demonstrates their increasing interest in India’s telecommunications market. Media reports have recently reported that Bharti Airtel, India’s third-largest telecom operator is planning to buy stakes of at least $ 2 billion from Amazon and that Google held talks on Vodafone Idea, the second-largest telecoms operator, to deal with the like.

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Jio Platforms also offers numerous digital apps and services, including JioSaavn (which is said to have publicity), JioTV on-demand live TV and JioMoney payments, smartphones, and broadband services. Jio Platforms has several services. Jio’s users are free of charge to offer these services. Pankaj Jain, a leading investor of Angel, said that the digital services suite from Jio Platforms seemed to have helped attract foreign investors. By strengthening their strategy for content, they appealed to investors who see the same strategy played out on other markets, “he said.

Unfortunately, it remains to be seen whether the content in India can significantly increase margins. Though Reliance Jio Platforms hasn’t shown why they’re raising so much money, that capital could be used to cut the oil to retail net debt of giant Reliance Industries by around $21 billion. By early 2021, Ambani promised to clear all due to Reliance. In 2012, Reliance Industries had no debt, but this changed as the company decided to go to the market for telecommunications. I am looking forward to the invaluable expertise L Catterton has gained in developing market-focused businesses, despite the need for technology and customer expertise to work together to foster India ‘s digital leadership.

Richa Sharma
Author

Enthusiastic for Technology, Richa Sharma has zeal in experimenting with her knowledge of Latest technologies. She keeps on updating her technical know-how thus pinning her name among the topmost COOs and her contribution is penned down by her thorough blogs on various technical aspects. She loves to decipher the latest technologies.

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