Mumbai, June 5 — Reliance Industries Limited and Jio Platforms Limited on Friday announced that Mubadala Investment Company, the Abu Dhabi-based sovereign investor, will invest Rs. 9,093.60 crore in Jio Platforms 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% equity stake in Jio Platforms on a fully diluted basis.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, the company claimed.Khaldoon Al Mubarak, Managing Director and Group CEO, Mubadala Investment Company, said: “We are committed to investing in, and actively working with, high growth companies which are pioneering technologies to address critical challenges and unlock new opportunities. 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.”For any query with respect to this article or any other content requirement, please contact Editor at contentservices@htlive.com
India Blooms
