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

Striking its seventh deal in the last seven weeks, Reliance Jio on Sunday said a subsidiary of Abu Dhabi Investment Authority (ADIA) will invest Rs 5,683.50 crore for a 1.16% equity stake in Jio Platforms. The transaction values Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore.

With the latest investment the company has got a total investment of Rs 97,885.65 crore from eight deals as Silver Lake and it co-investors made an additional investment on Friday. These successive stake sales are part of parent Reliance Industries’ (RIL) plans to be debt-free by the end of this fiscal. It raised Rs 53,124 crore via a rights issue that closed 4 June. RIL’s net debt currently stands at Rs 1.6 lakh crore.

Hamad Shahwan Aldhaheri, executive director of the private equities department at ADIA, said: “Jio Platforms is at the forefront of India’s digital revolution, poised to benefit from major socio-economic developments and the transformative effects of technology on the way people live and work.”

The rapid growth of the business, which has established itself as a market leader in just four years, has been built on a strong track record of strategic execution. Our investment in Jio is a further demonstration of ADIA’s ability to draw on deep regional and sector expertise to invest globally in market leading companies and alongside proven partners”.

On Friday, the company had announced that Abu Dhabi’s sovereign fund Mubadala would invest Rs 9,093.60 crore ($1.2 billion) for a 1.85% equity stake in Jio Platforms. On the same day, RIL also announced an additional Rs 4546.80 crore investment by Silver Lake, taking its total investment in Jio Platforms to Rs 10,202.55 crore.

In all these deals the company will issue fresh shares to the investors.