The Indian Wire » Business » Abu Dhabi’s Mubadala to invest $1.2 billion in Jio Platforms
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Abu Dhabi’s Mubadala to invest $1.2 billion in Jio Platforms

Reliance Jio

Mubadala, an Abu Dhabi-based supreme Investment Company is to invest Rs 9,093.60 crore for a 1.85% equity stake in Jio Platforms. This is so far going to be the sixth investment in for Reliance Jio, which has an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore.

“I am delighted that Mubadala, one of the most acute and impactful global growth investors has decided to associate us in our journey to escalate India’s digital growth towards becoming a leading digital nation in the world,” Mukesh Ambani, Chairman and Managing Director of RIL, said in a statement. “Through my longstanding ties with Abu Dhabi, I have for myself witnessed the impact of Mubadala’s work in heterogenous and globally connecting the UAE’s knowledge-based economy”, he further added.

However, the transaction is accordance to regulatory and other customary approvals.

Previously we saw RIL, intemded raising Rs 85,000-Rs 90,000 crore from stake sales in Jio Platforms, It has uptil now drawn Rs 78,562 crore in planned investments from companies like Facebook and private equity funds Silver Lake, Vista Equity Partners, General Atlantic and KKR for a summed holding of 17.12%. The latest would total the holding value to 18.97% and investment amount of up to Rs 87,655.35 crore .

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