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Abu Dhabi-based Mubadala to invest Rs 9,093.60 crore in Jio platforms

Abu Dhabi-based Mubadala to invest Rs 9,093.60 crore in Jio platforms

June 05
12:01 2020

Mumbai, Jun 5 : Reliance Industries Limited and Jio Platforms Limited, India’s leading digital services platform, announced on Friday that Abu Dhabi-based sovereign investor Mubadala Investment Company will invest Rs 9,093.60 crore in Jio Platforms.

The amount will be at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore. Mubadala’s investment will translate into a 1.85 per cent equity stake in Jio Platforms on a fully diluted basis.

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

Jio Platforms, a wholly-owned subsidiary of Reliance Industries, is a next-generation technology platform focused on providing high-quality and affordable digital services across India, with more than 388 million subscribers.

It has made significant investments across its digital ecosystem, powered by leading technologies spanning broadband connectivity, smart devices, cloud and edge computing, big data analytics, artificial intelligence, Internet of Things, augmented and mixed reality and blockchain.

The platform’s vision is to enable a Digital India for 1.3 billion people and businesses across the country, including small merchants, micro-businesses and farmers so that all of them can enjoy the fruits of inclusive growth.

Reliance Industries Mukesh Ambani Chairman and Managing Director said, ‘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 benefitting from Mubadala’s experience and insights from supporting growth journeys across the world.’

UNI

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Fayim Md

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