Abu Dhabi-based Mubadala invests Rs 9,093 cr in Jio Platforms

Sarkaritel
By Sarkaritel June 5, 2020 10:13


Mumbai, June 5 Reliance Industries Ltd on Friday announced that Mubadala Investment Company (Mubadala), the Abu Dhabi-based sovereign investor, 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.

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.

“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 benefiting from Mubadala’s experience and insights from supporting growth journeys across the world,” said Mukesh Ambani, Chairman and Managing Director of Reliance Industries.

With more than 388 million subscribers, Jio Platforms has made significant investments across its digital ecosystem, powered by leading technologies.

Jio’s vision is to enable a Digital India for 1.3 billion people and businesses across the country, including small merchants, micro-businesses and farmers so that all of them can enjoy the fruits of inclusive growth, the company said in a statement.

“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,” said Khaldoon Al Mubarak, Managing Director and Group CEO, Mubadala Investment Company.

“With Jio’s network of investors and partners, we believe that the platform company will further the development of the digital economy,” he added.

Sarkaritel
By Sarkaritel June 5, 2020 10:13