This recent investment by the ADIA arm will bring them a 1.16% stake in Jio Platforms on an entirely diluted basis, informed Reliance.
On Sunday, Reliance Industries Ltd (RIL) informed that a unit of Abu Dhabi Investment Authority (ADIA) has invested ₹5,683.50 crores in Jio Platforms, transferring the overall funds raised by its digital services subsidiary to about ₹1 trillion in nearly seven weeks.
The investment by a concealed, exclusively owned subsidiary of ADIA, valuing Jio Platforms at ₹4.91 trillion, arrives just two days after RIL declared two massive investments by foreign investors accumulating up to ₹13,640.4 crores in Jio Platforms.
RIL chairman and managing director Mukesh Ambani remarked, “I am delighted 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.”
With these present investments, Jio Platforms has collected ₹97,885.65 crores from seven marquee global financiers.
On Friday, Abu Dhabi-based Mubadala Investment Co. purchased a 1.85% stake in Jio Platforms for ₹9,093.60 crores. Later on the same day, RIL announced that Silver Lake, which had previously invested ₹5,655.75 crores in Jio Platforms on 4 May, has dedicated to funding supplementary ₹4,546.80 crores, together with its co-investors, contributing its overall investment to ₹10,202.55 crores, for a 2.08% stake.
Jio Platforms has been on an investment-raising binge since April end. They began with Facebook’s ₹43,574 crore funding in April, Jio Platforms has sold stakes to private equity firms including Mubadala, Vista Equity Partners, Silver Lake, General Atlantic, KKR & Co., and now ADIA.
The most recent investment will provide ADIA a 1.16% stake in Jio Platforms on a completely diluted basis, RIL informed.
ADIA is a globally-diversified investment organization that funds in the name of the government of Abu Dhabi by using a strategy emphasizing long-term value formation. They have made several investments in India, primarily under its private equities division.
Hamad Shahwan Aldhaheri, executive director of the private equities at ADIA stated, “Jio Platforms is at the forefront of India’s digital revolution, poised to benefit from major socioeconomic 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,”
He further added, “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.”