Abu Dhabi based Mubadala to invest USD 1.2 billion in Jio for 1.85 per cent stake

DELHI: Abu Dhabi’s second-largest investor group, Mubadala will invest $1.2 billion ( Rs  9,093.6 crore) in Reliance’s Jio platforms for a 1.85% stake taking the total investments to Rs 87655.35 crore for a combined 19% stake in the digital unit. The latest deal is the sixth since April which values Jio platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore.

Tech giant, Facebook which bought a 9.99% stake in Jio for $5.7 billion ( Rs 43, 574 crores) was the first investor in Jio platforms followed by four other investments by global Private Equity funds including  Silver Lake Partners( Rs 5,655.75 crore) investment for 1.15 per cent stake, Vista Equity Partners’ Rs 11,367 crore investment for a 2.32 per cent stake, General Atlantic Rs 6,598.38 crore  for  1.34 per cent stake, KKR ‘S investment worth Rs 11,367 crore for a 2.32 per cent stake.

Mukesh Ambani had earlier indicated that his focus will now be on the aggressively growing digital commerce unit, Jio which also houses movie, music apps as well as the telecom venture, having a combined subscription base of over 300 million people.

Abu Dhabi based Mubadala set up its venture arm in 2017 and has invested across various sectors with a focus on technology such as cognitive computing, ICT infrastructure, telecoms and satellite operations across US, Europe and Middle East.

“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,”  RIL Chairman Mukesh Ambani said in a statement.