Jio Platforms lands seventh investor in less than seven weeks

Wholly-owned subsidiary of Reliance Industries, Jio Platforms, is set to receive funding of Rs 5,683.50 crore from Abu Dhabi Investment Authority (ADIA), an investment which will constitute an equity stake of 1.16 per cent in Jio Platforms on a fully diluted basis.

Such an investment brings Jio Platforms to an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore. In less than seven weeks, the company has successfully raised a total amount of Rs 97,885.65 crore from various leading global investors such as Facebook, Vista Equity Partners, General Atlantic, Silver Lake, KKR, Mubadala and ADIA.

ADIA, established in 1976, is an investment institution that carefully allocates funds on behalf of the Government of the Emirate of Abu Dhabi through a strategy dedicated to long-term value creation. It oversees a global investment portfolio spread across over two dozen asset classes and sub-categories.

Jio Platforms is a next-generation technology platform concentrating on providing high-quality and reasonably priced digital services across India. The company has made substantial investments across its digital system, powered by leading technologies covering broadband connectivity, smart devices, blockchain, cloud and edge computing, Internet of things, artificial intelligence, augmented and mixed reality and big data analytics.

Compared to its previous close of Rs 1,580.60 on BSE, Reliance Industries’ stock opened gap up 2.7 per cent at Rs 1,624 on Monday.