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Abu Dhabi Firm Mubadala Invests 9093 Crores In Jio Platforms For 1.85%

Jio platforms remain the first choice of American investment companies. Mubadala is the first non-US company to invest in Jio platforms.

 

Mumbai| Reliance Industries Limited (RIL) said on Friday that Abu Dhabi investment company Mubadala would invest Rs 9093.6 crore for a 1.85% stake in its digital arm, Jio Platforms. Jio Platforms got this sixth investment in less than 6 weeks. It has so far received an investment of Rs 87655.35 crore for 18.97% stake.

The statement issued by RIL said that Mubadala made this investment at Rs 4.91 lakh crore equity value of Jio platforms and Rs 5.16 lakh crore for enterprise value. RIL has said that through this investment Mubadala will get 1.85% stake in Jio Platforms.

Here’s the investment received by the company so far:

Company                Investment (Rs. Crore)      Share
Facebook                    43574                                 9.99%
Silver Lake                    5656                                  1.15%
Vista Equity               11,367                                  2.32%
General Atlantic          6598                                   1.34%
KKR                             11,367                                  2.32%
Mubadala                     9,094                                  1.85%
Total                           87655                                  18.97%

Also Read: Another Equity Firm KKR Invests In Jio For 2.32% stakes

RIL’s Jio platforms remain the first choice of American companies in terms of investment. Mubadala has now become the first non-US company to invest in Jio platforms. Earlier investors Facebook, Silver Lake, Vista Equity Partners, General Atlantic and KKR & Co are all US companies.

We want to benefit from Mubadala’s experience: Mukesh Ambani

Mukesh Ambani, chairman and managing director of Reliance Industries, said, “I am delighted that Mubadala, one of the world’s best and transformative investors, has decided to partner with us.” He will be a partner in our journey to make India a digital nation. He further said, “I have a long-standing relationship with Abu Dhabi and I have seen that Mubadala has done a tremendous job in connecting the UAE’s knowledge-based economy to the world and colouring diversity. We want to benefit from the experience of Mubadala.”

Reliance Industries can become debt-free company by December this year

Mukesh Ambani had in August last year set a target of making RIL a debt-free company by March 2021 on a net basis. The debt reduction target is expected to be met in December this year by the Facebook deal, rights issue worth Rs 53125 crore, private equity investment and stake sale to many more companies including Saudi Aramco.

 

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