At the peak of global pandemic, Jio Platforms is on a golden streak. The latest is it has got $750 m from Abu Dhabi Investment Authority for a stake of 1.16%.
Continuing its almost improbable run, Reliance Industries’ digital subsidiary Jio Platforms on Sunday got $750 million (Rs 5,683.50 crore) from Abu Dhabi Investment Authority (ADIA) — its 7th big-ticket investor in as many weeks.
Analysts are astonished at the pace of investment flowing into Jio Platforms especially at the height of global financial turmoil.
Jio Platforms has now snared nearly $13 billion from seven investors, including the social media behemoth Facebook, by selling over 20% stake.
ADIA, one of the world’s largest investors, is the third deal that Jio Platforms has landed for itself this week.
Jio Platforms had earlier got $1.2 billion from another Abu Dhabi-based sovereign firm Mubadala. Further, late last Friday, equity firm Silver Lake chipped in an additional $600 million to increase its stake in Jio to 2.1%.
ADIA’s investment values Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore. ADIA’s investment will translate into a 1.16% equity stake in Jio Platforms on a fully diluted basis.
