Reliance Industries (Reliance Industries) announced that Mubadala Investment Company will invest Rs 9,093.60 crore in its subsidiary Jio Platforms.
Reliance Industries and Jio Platforms announced that Mubadala Investment Company 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.
The announcement was made before market hours today. Shares of RIL gained 2.43% to close at Rs 1,579.95 on 4 June 2020.
Mubadala Investment Company is a sovereign investor managing a global portfolio, aimed at generating sustainable financial returns for its shareholder, the Government of Abu Dhabi.
Jio Platforms, a wholly-owned subsidiary of RIL, is a next-generation technology platform focused on providing high-quality and affordable digital services across India, with more than 388 million subscribers.
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.
RIL is India’s largest private sector company. RIL’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and digital services.
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