Reliance Industries Limited and Jio Platforms Limited, a digital services platform, announced that Mubadala Investment Company, the Abu Dhabi-based sovereign investor, will invest ₹ 9,093.60 crore in Jio Platforms at an equity value of ₹ 4.91 lakh crore and an enterprise value of ₹ 5.16 lakh crore.
With this investment, Jio Platforms has raised ₹ 87,655.35 crore from leading global technology and growth investors including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR and Mubadala in less than six weeks.
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.”
Mubadala invests and partners to advance Abu Dhabi’s diversified, globally integrated economy across sectors that are driving global growth and addressing critical challenges. In 2017, Mubadala established its Ventures arm to partner with visionary founders and support innovative businesses. Mubadala’s Ventures business currently manages several venture funds in the US, Europe and Middle East.
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