RIL share price at record high on further investments by global investors into Jio

Reliance Industries (RIL) share price touched record high of Rs 1,624, adding nearly 3 percent in early trade on June 8 on fresh investments into Jio Platforms.

Reliance Industries and Jio Platforms announced that Silver Lake and its co-investors will invest an additional Rs 4,546.80 crore in Jio Platforms, in addition to the Rs 5,655.75 crore of investment by Silver Lake announced on May 4, 2020, as per RIL release.

This brings the aggregate investment by Silver Lake and its co-investors to Rs 10,202.55 crore.

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Additionally, a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA) is going to invest Rs 5,683.50 crore in Jio Platforms, company said in an another release.

This investment values Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore.

ADIA’s investment will translate into a 1.16% equity stake in Jio Platforms on a fully diluted basis.

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With this investment, Jio Platforms has raised Rs 97,885.65 crore from leading global investors including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala and ADIA in less than seven weeks.

Both the transaction is subject to regulatory and other customary approvals.

Morgan Stanley acted as financial advisor to Reliance Industries and AZB & Partners and Davis Polk & Wardwell acted as legal counsels.

At 09:19 hrs Reliance Industries was quoting at Rs 1,608.40, up Rs 27.80, or 1.76 percent on the BSE.