Deccan Herald : Jun 05, 2020, 09:56 AM
Dubai: Abu Dhabi-based fund, Mubadala Investment Company (Mubadala), will invest Rs 9,093.60 crore in Jio Platforms for 1.85% equity stake on a fully diluted basis. This is the sixth mega-deal for Reliance Jio over the past six weeks. Mubadala’s investment, at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore, takes the total amount raised by Jio Platforms to a whopping Rs 87,655.35 crore, according to a press release by RIL. With this, Reliance Industries has reclaimed Rs 10 lakh crore level in market capitalisation. Earlier, leading global technology and growth investors including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, and KKR had pledged to invest in Jio.Jio Platforms is a wholly-owned subsidiary of Reliance Industries. Mukesh Ambani, Chairman and Managing Director of Reliance Industries, 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.” 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."