In the lockdown, Reliance industries’ telecom platform Jio continues to invest. The latest investment has been made by the Abu Dhabi Investment Authority (AIDA). According to news agency PTI, the Abu Dhabi Investment Authority has invested Rs 5,683.50 crore for a 1.16 percent stake in Jio platforms.
Eighth Investment in Jio
This is the eighth investment in Jio in less than seven weeks. With this, the total investment in Jio has reached close to Rs 1 lakh crore within 47 days. Giving details about the new investment, Reliance Industries said Jio platforms had a share valuation of Rs 4.91 lakh crore and an undertaking valuation of Rs 5.16 lakh crore in the deal.
Mukesh Ambani, Chairman & Managing Director, Reliance Industries, said, “I am delighted that the Abu Dhabi Investment Authority is partnering with Jio Platforms with a track record of four decades of investment success. They are a partner in Jio’s mission that creates opportunities for digital leadership and inclusive growth for India. This investment is a symbol of our strategy and confidence in India’s potential,” he said.
“Jio platforms are at the forefront of India’s digital revolution,” said Hamad Shahwan Aldheri, an official at Abu Dhabi investment authority. Our investment in Jio demonstrates our deep understanding and expertise in investing in leading market companies.”
More than 21 per cent stake deal
Reliance Industries has so far made deals to sell 21.06 per cent stake in Jio platforms altogether, giving the company Rs 97,885.65 crore in total. Earlier, companies like Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR and Mubadala have invested in Jio platforms.
Facebook buys 9.99 percent stake
Facebook bought a 9.99 percent stake in Jio Platforms for Rs 43,574 crore on April 22. A few days after the deal, Silver Lake, the world’s largest tech investor, bought a 1.15 percent stake in Jio Platforms for Rs 5,665.75 crore. Us-based Vista Equity Partners then bought a 2.32 percent stake in Jio Platforms for Rs 11,367 crore on May 8. Global equity firm General Atlantic acquired a 1.34 percent stake in the company at Rs 6,598.38 crore on May 17.
KKR deals for Rs 11,367 crore
US equity investor KKR bought a 2.32 per cent stake in Rs 11,367 crore. On Friday last week, Abu Dhabi’s Sawren investor Mubadala and private investment company Silver Lake also made the investment. Mubadala invested Rs 9,093.60 crore in exchange for 1.85 percent stake in Jio platforms, while Silverlake made a new Rs 4,546.80 crore in exchange for an additional 0.93 percent stake in Jio platforms. This has increased the total investment made by Silver Lake into Jio platforms to Rs 10,202.55 crore and the total share to 2.08 per cent.