Lawstreet Journal

Jio Investment Saga Continues: Abu Dhabi Investment Authority to Invest Rs 5,684 Crore For 1.16% Stake

Lawstreet Journal 8 Jun 2020 9:05pm

Image courtesy: Lawstreet Journal Business Jio Investment Saga Continues: Abu Dhabi Investment Authority to Invest Rs 5,684 Crore For 1.16% Stake

Abu Dhabi Investment Authority (ADIA) is slated to invest Rs 5,683.50 crore for a 1.16 percent stake in Jio Platforms, it was announced on June 07, 2020. ADIA's investment is the eighth investment in Jio Platforms, which is a digital arm of Reliance Industries, for the last seven weeks.

The ADIA deal will value Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore.

With a series of eight investments, the total amount invested in Jio Platforms now stands at a whopping Rs 97,886 lakh crore for 21.06 percent share in the telecom company. 

Abu Dhabi Investment Authority is a sovereign wealth fund of the Abu Dhabi emirate of the United Arab Emirates. ADIA manages a global investment portfolio that is diversified across more than two dozen asset classes and sub-categories.

On June 05, 2020, i.e. last Friday, Mubadala, which is also owned by Abu Dhabi, had announced a Rs 9,093.60 crore investment for a 1.85 percent stake. On the same day, Silver Lake Partners had also announced an additional Rs 4,547 crore investment for a further 0.93 percent stake in the telecom major, having earlier invested Rs 5,656 crore for a 1.15 percent stake on May 04, 2020.

Facebook was the first to start these series of investments in the Jio Platforms pie with a major chunk of investment among all the investors, investing Rs 43,574 crore for a 9.99 percent stake. This investment had made Facebook the largest minority shareholder in… Continue Reading...

Tagged: Reliance Industries   Reliance Industries Limited   Reliance Industry  
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