UAE Based Mubadala Development Company to Invest Rs 9,093 cr in Reliance’s Jio Platforms

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UAE based sovereign investor Mubadala Investment Company will invest Rs 9,093.60 crore for a 1.85% equity stake in Jio Platforms. This will be the sixth investment in Jio, which has an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore.

“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 towards becoming a leading digital nation in the world,” Mukesh Ambani, chairman and MD of Reliance Industries, said in a statement. “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”, he added.

These deals are coming in on the run-up to an IPO for Jio, expected in two years. Reliance has consistently talked about building Jio Platforms into a digital entity on the lines of Alphabet and Tencent.