In an unprecedented eighth occurrence of investment in Jio Platforms in less than seven weeks, the Abu Dhabi Investment Authority (ADIA) will invest Rs 5,683.50 crore, valuing Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore, said the Reliance Industries Limited (RIL) on Sunday.
ADIA’s investment will translate into a 1.16% equity stake on a fully diluted basis.
Established in 1976, ADIA is a globally-diversified investment institution that prudently invests funds on behalf of the Government of Abu Dhabi through a strategy focused on long-term value creation. ADIA manages a global investment portfolio that is diversified across more than two dozen asset classes and sub-categories.
“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,” the company said in a statement.
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Mukesh Ambani, Chairman and Managing Director of Reliance Industries, said that he looked forward to benefitting from the group’s experience and insights.
“I am delighted that ADIA, with its track record of more than four decades of successful long-term value investing across the world, is partnering with Jio Platforms in its mission to take India to digital leadership and generate inclusive growth opportunities. This investment is a strong endorsement of our strategy and India’s potential,” he said.
Meanwhile, Shahwan Aldhaheri, Executive Director of the Private Equities Department at ADIA, said that the investment in Jio Platforms is a result of it establishing itself as a market leader in just four years.
“Jio Platforms is at the forefront of India’s digital revolution, poised to benefit from major socioeconomic 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,” he said.
Jio Platforms, a wholly-owned subsidiary of Reliance Industries, is a next-generation technology platform focused on providing high-quality and affordable digital services across India, with millions of subscribers.
Jio Platforms has made significant investments across its digital ecosystem, powered by leading technologies spanning broadband connectivity, smart devices, cloud and edge computing, big data analytics, artificial intelligence, Internet of Things, augmented and mixed reality, and blockchain.
Jio’s vision is to enable a Digital India for 1.3 billion people and businesses across the country, including small merchants, micro-businesses and farmers so that all of them can enjoy the fruits of inclusive growth.