Jio Platforms to Get More Investments from Abu Dhabi Investment Authority

Jio Platforms Limited has become an attractive hub for companies to invest their money into. Reliance Jio has become one of the biggest companies in India in a very short span. It all started with Facebook’s investment followed up by investments from other groups — Silver Lake, Vista Equity Partners, General Atlantic, and KKR. All these companies got a holding of 17.12% in the Jio Platforms for which Jio could draw Rs 78,562 crore. Reliance had a target of raising between Rs 85,000-90,000 crore for Jio Platforms and now with the expected investment from Abu Dhabi Investment Authority (ADIA), it may be possible.

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Reliance Jio Platforms to get $1.5 Billion Investment

The new investment bringing in $1.5 billion will get any of the groups over 2% stake in the Jio Platforms. This valuation has pegged Reliance Jio’s equity value at Rs 4.91 Lakh crore and an enterprise value of Rs 5.16 Lakh crore. Mubadala, a part of the UAE’s largest sovereign wealth fund, along with Saudi Arabia’s sovereign wealth fund Public Investment Fund (PIF) will also invest with ADIA. The investment may be close to $2 billion (Rs 15,000) crore. The groups are open to pool in more funds though and an announcement for the same will be made very soon. This news was first reported by Gadgets Now.

This investment will be the last chance for any of the companies in the world to get a stake in Jio Platforms. ADIA has been investing in the technology sector in both private and public companies for quite some time now. But it doesn’t just focus on technology, it has four more sectors on which it invests in the portfolio. Whereas Mubadala invests more aggressively in the technology sector and plays a more dominant role.