Abu Dhabi based Mubadala invests Rs 9,093 crores in Reliance Jio, stake worth 1.85%

Reliance Industries Limited on Friday, June 5, anunced that Abu Dhabi based sovereign investor, Mubala Investment Company will be investing Rs 9,093 crores in Jio Platforms, worth a 1.85% equity stake. This is sixth investment in telecom firm since April.

RE: Reliance Industries Closes India's Largest Rights Issue, Oversubscribed 1.59 Times

Jio anunces sixth investment 

Reliance Industries Chairman and Managing Director Mukesh Ambani said, “I am delighted that Mubala, one of most astute and transformational global growth investors has decided to partner us in our journey to propel India’s digital growth towards becoming a leing Digital Nation in world. Through my longstanding ties with Abu Dhabi, I have personally seen impact of Mubala’s work in diversifying and globally connecting UAE’s kwledge-based ecomy. We look forward to benefitting from Mubala’s experience and insights from supporting growth journeys across world.”

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Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR have previously invested Rs ₹ 87,655.35 since April, paving way for firm to be debt-free by March 2021.

firm also closed its rights issue worth Rs 53,124 crore. service was oversubscribed nearly 1.6 times, a press released re.  public portion of rights issue was oversubscribed 1.22 times.  last time RIL tapped public for funds was in 1991 when it h issued convertible debentures. debentures were subsequently converted into equity shares at Rs 55 apiece.

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Khaldoon Al Mubarak, Managing Director, and Group CEO, Mubala Investment Company, said, "We are committed to investing in, and actively working with, high growth companies which are pioneering techlogies to dress critical challenges and unlock new opportunities. We have seen how Jio has alrey transformed communications and connectivity in India, and as an investor and partner, we are committed to supporting India's digital growth journey. With Jio’s network of investors and partners, we believe that platform company will furr development of digital ecomy."

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As per reports, Mubala's portfolio covers Aero, Healthcare, Petrochemicals, Renewables, Information and Techlogy, Real Estate etc. in more than 50 firms across world. More than 18% stake has been invested Reliance Jio over se six investments. 

Jio was launched in September 2016. In last three and a half years, Jio has become largest telecom business in country.

(With ncy Inputs)

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