Jio Platforms raises $1.2 bn from Abu Dhabi state fund, its 6th deal in 6 weeks

Mubadala Investment Company (Mubadala), an Abu Dhabi-based firm, will invest Rs 9,093.60 crore in Jio Networks on a fully diluted basis for 1.85 percent equity stake.

This is the sixth mega-deal in the last six weeks for Reliance Jio.

With this, Reliance Industries has reclaimed the market capitalization level of Rs 10 lakh crore.

Previously, leading global investors in technology and growth including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, and KKR had pledged to invest in Jio.

Reliance Industries is a wholly-owned subsidiary of Jio Platforms.

Mukesh Ambani, Chairman and Managing Director of Reliance Industries, said, “I am delighted that Mubadala, one of the most astute and transformational global growth investors has decided to partner us in our journey to propel India’s digital growth towards becoming a leading Digital Nation in the world. 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 benefitting from Mubadala’s experience and insights from supporting growth journeys across the world.”

Khaldoon Al Mubarak, Managing Director and Group CEO, Mubadala Investment Company, said: “We are committed to investing in, and actively working with, high growth companies which are pioneering technologies to address critical challenges and unlock new opportunities. 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. With Jio’s network of investors and partners, we believe that the platform company will further the development of the digital economy.”

Hetal Patel

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