ADIA invests `5,683.5 cr in Jio Platforms
Abu Dhabi Investment Authority (ADIA) has invested Rs 5,683.50 crore in Jio Platforms, the digital arm of Reliance Industries (RIL). The latest investment — eighth in the series — values Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore.
ADIA’s investment will translate into a 1.16 per cent equity stake in Jio Platforms on a fully diluted basis. With this Jio Platforms has raised Rs 97,885.65 crore from leading global investors including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala and ADIA in less than seven weeks.
A wholly-owned subsidiary of RIL, Jio Platforms is a next-generation technology platform focused on providing high-quality and affordable digital services across India, with over 388 million subscribers. ADIA is a globally-diversified investment institution that invests funds on behalf of the Government of Abu Dhabi through a strategy focused on long-term value creation. ADIA manages a global investment portfolio that is diversified across more than two dozen asset classes and sub-categories.
RIL CMD Mukesh Ambani said, “This investment is a strong endorsement of our strategy and India’s potential.” Hamad Shahwan Aldhaheri, executive director of the Private Equities Department at ADIA, said, “Our investment in Jio is a further demonstration of ADIA’s ability to draw on deep regional and sector expertise to invest globally in market leading companies and alongside proven partners.”
Indian express
