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Jio Platforms Gets 6th Big Investment From Abu Dhabi Investor

On Friday, Reliance Industries gets its sixth big investment from Mubadala Investment Company from Abu Dhabi, UAE. The company will buy a 1.85 percent stake in Jio Platforms for Rs. 9,093.60 crores.

Reliance has now sold a combined 18.97 percent share in Jio Platforms, which houses Jio Infocomm ‘s video services, music services, and telecoms business, in six investment deals including a massive 9.99 percent stake sale to Facebook for a whopping Rs. 43,574 crores ($5.7 billion).

Also Read: What is Jio Platforms & Why Investors are Investing Huge Amounts In It

With this investment, Jio Platforms has raised Rs. 87,655.35 crores from leading global technology and growth investors including Facebook, Silver Lake, Vista Equity Partners), General Atlantic, KKR, and Mubadala in less than six weeks. Reliance Jio Platforms in a Statement

The interest in Jio Platforms reflects its ability to become the leading player in the digital economy in India. The telecom company has already decimated many competitors with cut-throat pricing and relies on the distribution network of Reliance to grow into the e-commerce platform.

It is the biggest investment by Mubadala Investment Company in any Indian company.

I am delighted that Mubadala, one of the most astute and transformational global growth investors has decided to partner us in our journey to propel India’s digital growth towards becoming a leading digital nation in the world. Through my longstanding ties with Abu Dhabi, I have personally seen the impact of Mubadala’s work in diversifying and globally connecting the UAE’s knowledge-based economy. Mukesh Ambani (Reliance Industries)

Jio Platforms Investments
Source: Money Control

Analysts said Reliance aimed to raise Rs 85,000—Rs 90,000 crores from Jio Platforms stake sales, so far drawing Rs 78,562 crore from existing Facebook investments and private equity funds Silver Lake, Vista Equity Partners, General Atlantic and KKR for a 17.12 percent cumulative stake. The latest will take the combined holding to 18.97 per cent and up to Rs 87,655.35 crore investment total.

We have seen how Jio has already transformed communications and connectivity in India, and as an investor and partner, we are committed to supporting India’s digital growth journey. With Jio’s network of investors and partners, we believe that the platform company will further the development of the digital economy. Khaldoon Al Mubarak, MD and Group CEO, Mubadala Investment Company

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