News

ADIA invests Rs 5,683 cr in Jio Platforms

Reliance Industries Ltd

In a major development, Reliance Industries Ltd (RIL) said a unit of Abu Dhabi Investment Authority (ADIA) has invested Rs 5,683.50 crore in Jio Platforms.  The total capital raised by its digital services subsidiary to around Rs 1 trillion in just seven weeks.

Eletsonline News

RIL chairman and MD Mukesh Ambani said “I am delighted ADIA, with its track record of more than four decades of successful long-term value investing across the world, is partnering with Jio Platforms in its mission to take India to digital leadership and generate inclusive growth opportunities.”

With this investment, Jio Platforms has raised Rs 97,885.65 crore from seven marquee global investors.

Earlier, Abu Dhabi-based Mubadala Investment Co. bought a 1.85% stake in Jio Platforms for Rs 9,093.60 crore. Later RIL said Silver Lake, which had earlier invested Rs 5,655.75 crore in Jio Platforms, has committed to invest an additional Rs 4,546.80 crore.

Eletsonline News

Jio Platforms has been on a capital-raising spree since April end. Starting with Facebook’s Rs 43,574 crore investment in April, Jio Platforms has sold stakes to private equity firms KKR & Co., Silver Lake, Vista Equity Partners, General Atlantic, Mubadala, and now ADIA.

The latest investment will fetch ADIA a 1.16% stake in Jio Platforms on a fully diluted basis, RIL said.

ADIA is a globally-diversified investment institution that invests funds on behalf of the government of Abu Dhabi through a strategy focused on long-term value creation. It has a number of investments in India, mostly through its private equities department.

Follow and connect with us on Facebook, Twitter, Elets video

Eletsonline News

Latest News

To Top