Mubadala invests Rs 9,093 crores in Jio
Reliance strikes 6th deal as it sells 1.85% stake in Jio to Abu Dhabi's sovereign fund
New Delhi: Reliance Industries on Friday announced the sale of 1.85 per cent stake in its digital unit to Abu Dhabi-based sovereign investor Mubadala for Rs 9,093.60 crore, the sixth deal in as many weeks that will inject a combined Rs 87,655.35 crore in the oil-to-telecom conglomerate to help it pare debt.
"Mubadala Investment Company (Mubadala), 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," the company said in a statement.
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 Ltd, is a next-generation technology company.
Reliance Jio Infocomm Ltd, with 388 million mobile subscribers, will continue to be a wholly-owned subsidiary of Jio Platforms.
Mukesh Ambani, Chairman and Managing Director, Reliance Industries, said Mubadala is one of the most astute and transformational global growth investors.