<p>Abu Dhabi Investment Authority (ADIA) will be investing Rs 5,683.50 crore in Jio Platforms Limited, a subsidiary of Reliance Industries Limited for a 1.15 per cent stake in the telecom service provider.</p>.<p>The deal, which values Jio Platforms at an enterprise value of Rs 5.16 lakh crore, is now subject to regulatory approvals.</p>.<p>With this deal, which is sixth since April, Jio Platforms has been able to raise an astounding Rs 97,885.65 crore ($13 billion) during the pandemic time when most of the financial markets are witnessing a freeze.</p>.<p>Previously, Jio Platforms has signed seven deals with global investors including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, and Mubadala.</p>.<p>Interestingly, ADIA is a UAE-based sovereign wealth fund (SWF), just like Mubadala, which will be investing Rs 9,093.60 crore in Mukesh Ambani led Jio Platforms for 1.85 per cent stake.</p>.<p>With assets under management of over $1 trillion, Mubadala Investment Company and ADIA, among others, is a part of the world's second-largest second-largest sovereign wealth fund.</p>.<p>Both SWFs have also valued Jio Platforms at the same enterprise value -- Rs 5.16 lakh crore.</p>.<p>Including the recently-concluded rights issue, RIL, at the group level has raised Rs 1.82 lakh crore ($25 billion), during the two months of pandemic itself.</p>.<p>Mukesh Ambani, Chairman and Managing Director of Reliance Industries, said, “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.”</p>.<p>Global investment bank Morgan Stanley acted as financial advisor to Reliance Industries for the deal and AZB & Partners, and Davis Polk & Wardwell acted as legal counsel.</p>
<p>Abu Dhabi Investment Authority (ADIA) will be investing Rs 5,683.50 crore in Jio Platforms Limited, a subsidiary of Reliance Industries Limited for a 1.15 per cent stake in the telecom service provider.</p>.<p>The deal, which values Jio Platforms at an enterprise value of Rs 5.16 lakh crore, is now subject to regulatory approvals.</p>.<p>With this deal, which is sixth since April, Jio Platforms has been able to raise an astounding Rs 97,885.65 crore ($13 billion) during the pandemic time when most of the financial markets are witnessing a freeze.</p>.<p>Previously, Jio Platforms has signed seven deals with global investors including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, and Mubadala.</p>.<p>Interestingly, ADIA is a UAE-based sovereign wealth fund (SWF), just like Mubadala, which will be investing Rs 9,093.60 crore in Mukesh Ambani led Jio Platforms for 1.85 per cent stake.</p>.<p>With assets under management of over $1 trillion, Mubadala Investment Company and ADIA, among others, is a part of the world's second-largest second-largest sovereign wealth fund.</p>.<p>Both SWFs have also valued Jio Platforms at the same enterprise value -- Rs 5.16 lakh crore.</p>.<p>Including the recently-concluded rights issue, RIL, at the group level has raised Rs 1.82 lakh crore ($25 billion), during the two months of pandemic itself.</p>.<p>Mukesh Ambani, Chairman and Managing Director of Reliance Industries, said, “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.”</p>.<p>Global investment bank Morgan Stanley acted as financial advisor to Reliance Industries for the deal and AZB & Partners, and Davis Polk & Wardwell acted as legal counsel.</p>
