Abu Dhabi-based Mubadala to invest over Rs 9000 crore in Jio Platforms

Abu Dhabi-based investor Mubadala will buy a 1.85% stake in Jio Platforms for 9,093.6 crores.

“Mubadala Investment Company (Mubadala) 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. Mubadala’s investment will translate into a 1.85% equity stake in Jio Platforms on a fully diluted basis,” Reliance Industries Limited (RIL) said in a statement on Friday.

RIL subsidiary Jio Platforms is a next-generation technology platform focused on providing affordable, high-quality digital services across India.

Mubadala owns electronic chip manufacturing company Global Foundries and has a stake in various other technology companies. Moreover, it has other investments in the fields of petroleum, renewable energy, aerospace, satellite communications, agriculture, healthcare, metals, and mining.

RIL chairman and managing director Mukesh Ambani said that the company is looking forward to benefitting from the Mubadala's 'experience and insights from supporting growth journeys across the world.'

Jio Platforms has raised Rs 87,655.35 crore from tech companies like facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR and Mubadala, in less than six weeks.

“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,” Mubadala Investment Company managing director and Group CEO Khaldoon Al Mubarak said.