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).