Abu Dhabi-based Mubadala invests Rs 9,093 cr in Reliance Jio platforms

ST Staff
Friday, 5 June 2020

Jio has been supporting the Digital India vision and has helped more than 1.3 billion and businesses across the country. The company has also fostered the growth of small merchants, micro-businesses and farmers through their vision. 

Mumbai: According to an announcement made by Reliance Industries Private Ltd on Friday, an Abu Dhabi-based independent investor – Mubadala Investment Company (Mubadala) will invest Rs 9,093.60 crore in Jio Platforms. The investment is confirmed at an equity value of Rs 4.91 lakh crore, and an enterprise value of Rs 5.16 lakh crore.

With this investment, Mubadala has been added to the list of illustrious leading global technology and growth investors investing in Jio platforms. In less than six weeks, Jio has raised Rs 87,655.35 crore from investors such as Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR and Mubadala. 

Jio Platforms currently has more than 388 million subscribers, and in recent years has made significant investments across its digital ecosystem, powered by leading technologies. Jio now runs music, films and news apps through its various platforms, apart from the telecom service. 

Talking about the recent investment, Mukesh Ambani, Chairman and Managing Director of Reliance Industries said, “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 benefiting from Mubadala’s experience and insights from supporting growth journeys across the world.” 

Jio has been supporting the Digital India vision and has helped more than 1.3 billion people and businesses across the country. The company has also fostered growth for small merchants, micro-businesses and farmers, through their vision. 

“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,” said Khaldoon Al Mubarak, Managing Director and Group CEO, Mubadala Investment Company.

 “With Jio’s network of investors and partners, we believe that the platform company will further the development of the digital economy,” he added.

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