Reliance Industries Ltd (RIL) announced Friday two large investments by foreign investors for a total amount of ₹13 640,4 million euro in hio-platforms. For example, RIL’s Digital Services Department ₹92 collected 202.15 crores from leading global investors in less than six weeks.
In the first transaction, Abu Dhabi-based Mubadala Investment Co. acquired a 1.85% stake in Jio Platforms for ₹9 093.60 crore, becoming the world’s sixth largest investor in a digital services company.
On the same day RIL announced that Silver Lake, which opened on the 4th. May ₹5 655.75 crores invested in Jio Platforms, as well as its co-investors will further invest ₹4 546.80 crores, bringing the total investment to 2.08% of the shares on ₹10 202.55 crores. Recent investments are estimated by Jio Platforms at ₹4,91 trillion and ₹5,16 trillion, according to RIL.
Starting with the investment in Facebook ₹43 574 Crores in April, Jio Platforms sold its shares to the private equity firms KKR & Co, Silver Lake, Vista Equity Partners and General Atlantic.
View the full image
Dial the number.
The high-value transactions highlight the potential of India’s large and growing user base and Gio’s leadership in this growing market. India’s fast-growing online retail market also gives hope to global companies in this market.
I am very pleased that Mubadala, one of the world’s most visionary and transformative growth investors, has decided to work with us on our journey to make India a leading digital growth country, said Mukesh Ambani, President and MD of RIL. We look forward to leveraging Mubadala’s experience and ideas by supporting travel around the world for growth.
I want to emphasize that Silver Lake’s additional investment in the Jio platforms over a period of five weeks during the Covida 19 pandemic is a strong confirmation of the resilience of the Indian economy, which will undoubtedly grow with the full introduction of digital technologies, said Ambani.
The agreement led by Jio Platforms will help RIL move closer to its goal of clearing ₹1.53 trillion in net debt (by December 2019) by next March. RIL’s indebtedness has increased in recent years, partly due to the aggressive expansion of Reliance Jio Infocomm Ltd.
This is Mubadala’s largest investment in India to date. The 20th. In May 2017, in a consortium with other investors, Mubadala pledged $15 billion to SoftBank CEO Masayoshi Son, the largest $100 billion private fund ever raised. The fund invests in and supports leading companies and entrepreneurs by creating software, hardware and internet platforms in areas such as connectivity, data analysis and artificial intelligence.
We are committed to investing and actively working with fast-growing companies at the cutting edge of technology to solve critical problems and create new opportunities, said Khaldun Al Mubarak, Managing Director of Mubadala Group. We have seen how Gio has transformed communication and connectivity in India and as an investor and partner we are committed to supporting digital development in India. We are convinced that the platform company will contribute to the further development of the digital economy through Jio’s network of investors and partners.
Sign up for the newsletter.
* Enter a valid email address
* Thank you for subscribing to our newsletter.