ADIA to invest 5683.50 crore in Jio Platforms for 1.16% stake

Reliance Industries today announced that Abu Dhabi Investment Authority (“ADIA”), globally-diversified investment institution will invest Rs. 5,683.50 crore in Jio Platforms. This investment values Jio Platforms at an equity value of Rs. 4.91 lakh crore and an enterprise value of Rs. 5.16 lakh crore. ADIA ’s investment will translate into a 1.16% equity stake in Jio Platforms on a fully diluted basis.

With this investment, Jio Platforms has raised Rs. 97,885.65 crore from leading technology investors including Facebook (Rs. 43,574 crore), Vista Equity Partners (Rs. 11,367 crore), General Atlantic (Rs. 6,598.38  core) and KKR (Rs. 11,367 crore), Silver Lake and its co-investors (Rs. 10,202.55  crore) and Mubadala (Rs. 9093.60 crore) in seven weeks.

The transaction is subject to regulatory and other customary approvals.

Commenting on the investment, Mukesh Ambani, Chairman and Managing Director of Reliance Industries, said:

I am delighted that ADIA, with its track record of more than four decades of successful long-term value investing across the world, is partnering with Jio Platforms in its mission to take India to digital leadership and generate inclusive growth opportunities. This investment is a strong endorsement of our strategy and India’s potential.

Hamad Shahwan Aldhaheri, Executive Director of the Private Equities Department at ADIA, said:

Jio Platforms is at the forefront of India’s digital revolution, poised to benefit from major socio-economic developments and the transformative effects of technology on the way people live and work. The rapid growth of the business, which has established itself as a market leader in just four years, has been built on a strong track record of strategic execution. Our investment in Jio is a further demonstration of ADIA’s ability to draw on deep regional and sector expertise to invest globally in market leading companies and alongside proven partners.

Author: Srivatsan Sridhar

Srivatsan Sridhar is a Mobile Technology Enthusiast who is passionate about Mobile phones and Mobile apps. He uses the phones he reviews as his main phone. You can follow him on Twitter and Instagram