The sixth investment in as many weeks in Reliance Jio which has equity worth of Rs 4.91 lakh crore that is 1.85 percent equity stake, and also the enterprise worth of Rs 5.16 lakh crore. On Friday morning deals, RIL shares went up to Rs 1,617.70 that is maximum as 2.39 percent on the BSE, outperforming the benchmark S&P BSE Sensex index was flat.
Early on Friday RIL announced the sales to Abu Dhabi based sovereign investor Mubadala for Rs 9,093.60 crore of 1.85 percent stake in its digital unit. This will be the sixth deal that may shoot a combined Rs 87,655.35 crore within the oil to telecom merging to help with its pare debt.
Mukesh Ambani, chairman and MD of Reliance Industries said “I am glad that Mubadala, one among the foremost smart and transformational worldwide developed investors has decided to partner us in our journey to drive India’s digital development towards turning a number one digital nation within the world,”. He added, “I have personally observed the impact of Mubadala’s add diversifying and globally connecting the UAE’s knowledge-based economy,”.
In about six weeks Jio platforms have raised Rs 87,655.35 crore with leading global technology and growth investors including Vista Equity partners, Facebook, Silver Lake, KKR, General Atlantic, and with the current investment. On Wednesday, from rights issue parent RIL also raised Rs 53,124 crore got 1.59 times subscribed as a powerful response from shareholders. Through six fundraising deals, a combined 18.97 percent stake has been sold by Reliance Industries in Jio Platforms.
The second biggest state investor in Abu Dhabi Investment Authority (ADIA) is Abu Dhabi’s state-run Mubadala Investment Company which is managing around $240 billion worth of assets and a worldwide portfolio to generate financial returns. The business such as semiconductors, pharmaceuticals and medical technology, the management of diverse financial holdings, advanced manufacturing, metals & mining, and renewable energy and utilities are the portfolio spread over of Mubadal’s business.
In India ahead of FMCG giant Hindustan Unilever, TCS, HDFC, and after RIL, Jio Platforms has become the fourth biggest company though unlisted, with its valuation numbers in terms of market cap.
