Abu Dhabi Investment Authority (ADIA), one of the largest sovereign wealth funds in the world, will invest Rs 5,683.5 crore for 1.16 percent stake into Jio Platforms.
ADIA’s investment is the eighth investment in Jio Platforms in less than seven weeks and this marks a company’s largest continuous fundraising activity anywhere in the world. In a series of investment deals, Reliance Industries Limited has now sold 21.06 percent stake in Jio Platforms and raised Rs. 97,885.65 crore ($12.96 billion).
I am delighted that 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. This investment is a strong endorsement of our strategy and India’s potential. Mukesh Ambani (Reliance Industries)
Investment by ADIA’s comes at an equity valuation of Rs. 4.91 lakh crore and enterprise valuation of Rs. 5.16 lakh crore. This investment by ADIA comes close to its counterpart Mubadala Investment Company (also an Abu Dhabi investment company). Mubadala investment company bought a 1.85 percent stake in Jio Platforms. On the same day of Mubadala’s investment, a private equity investment company, Silver Lake Partners invested in Jio Platforms for the second time.
Facebook bought a 9.99 percent stake for Rs. 43,574 crore on April 22 which started the series of investments in Jio Platforms. After that, General Atlantic, Silver Lake (two investments), Vista, KKR and Mubadala have also spent their capital in Jio.
Our investment in Jio is a further demonstration of ADIA’s ability to draw on deep regional and sector expertise to invest globally in market leading companies and alongside proven partners. Hamad Shahwan Aldhaheri (Executive Director, ADIA)
Reliance Industries is aiming to reduce its debt with the investment and is expected to go debt-free by the end of this year. The business has now really become an oil to telecom empire and in the coming weeks, we could see more of these investments.
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