Reliance Jio continues its equity fund raising spree with minor equity stakes dilution, with Abu Dhabi-based sovereign investor Mubadala becoming the newest investor in the Mukesh Ambani firm for a little over Rs 9,093 crore. With the latest round of equity infusion by Mubadala for a 1.85% equity stake, Reliance Industries’ Jio Platforms has raised a total of Rs 87,655 crore in a matter of just six weeks. Reliance Jio has thus far sold a total of 19% equity stake to several investors, the most notable among them being Facebook. The foreign equity investments into Reliance Jio come as global investors find growing attraction for India’s digital consumer market.
The investment by Mubadala, which manages about $229 billion in assets, at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore takes the total amount raised by Jio to an eye-popping Rs 87,655.35 crore, according to a statement by RIL.
Commenting on the fresh deal, RIL chairman Mukesh Ambani said, “I am delighted that Mubadala, one of the most astute and transformational global growth investors has decided to partner us in our journey to propel India’s digital growth.”
“Through my longstanding ties with Abu Dhabi, I have personally seen the impact of Mubadala’s work in diversifying and globally connecting the UAE’s knowledge-based economy. We look forward to benefitting from Mubadala’s experience and insights from supporting growth journeys across the world,” he added.