Abu Dhabi Sovereign Fund Mubadala to Invest Rs 9,000 Crore in Reliance Jio

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Abu Dhabi Sovereign Fund Mubadala to Invest Rs 9,000 Crore in Reliance Jio
Reliance Industries on Friday introduced that Abu Dhabi state fund, Mubadala Investment, will purchase a 1.85% stake in Jio Platforms for Rs. 9,093.6 crores ($1.2 billion). It is the newest in a collection of high-profile investments within the digital arm of India’s largest conglomerate. The six offers over the previous few weeks have helped Reliance Industries mop-up a mixed Rs. 87,655 crores.

In a press assertion, Mukesh Ambani, the chairman and MD of RIL, stated: “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. We look forward to benefiting from Mubadala’s experience and insights from supporting growth journeys across the world”.

Reliance has introduced a collection of blockbuster offers over the previous few weeks, beginning with a 9.9% stake sale to Facebook in April. The deal, price Rs. 43,574 crores (round $5.7 billion), put an enterprise worth of Rs. 5 lakh crores (round $66 billion) on India’s largest wi-fi service. That was adopted by a 1.15% stake sale to US non-public fairness agency, Silver Lake, for Rs. 5,665.75 crores (round $750 million).

In May, US-based Vista Equity Partners purchased 2.32 p.c stake in Jio Platforms for Rs. 11,367 crores (round $1.5 billion). Just days later, world fairness agency, General Atlantic, picked up 1.34 p.c stake within the firm. Thereafter, US-based non-public fairness agency, KKR, purchased a 2.32 p.c stake in Jio Platforms for Rs. 11,367 crores ($1.5 billion).

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