Abu Dhabi Investment Authority (ADIA) will invest Rs 5,683.5 crore into Jio Platforms for an fairness stake of 1.16 %, a press launch by Reliance Industries Limited and Jio introduced.
“With this investment, Jio Platforms has raised Rs 97,885.65 crore from leading global investors including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala and ADIA in less than seven weeks,” the press launch famous.
ADIA’s funding at an fairness valuation of Rs 4.91 lakh crore and enterprise valuation of Rs 5.16 lakh crore comes shut on the heels of its counterpart Mubadala Investment Company’s buy of 1.85 % in Jio Platforms for Rs 9,093.6 crore and a second spherical of funding by non-public fairness big Silver Lake and co-buyers.
The collection of investments in Jio, which runs film, information and music apps in addition to the telecom firm Jio Infocomm, was led by a 9.99 % stake sale to Facebook Inc for Rs 43,574 crore on 22 April. Since then, General Atlantic, Silver Lake (twice), Vista Equity Partners, KKR and Mubadala have put their cash in Jio.
Jio Platforms is a subsequent-technology expertise platform centered on offering excessive-high quality and reasonably priced digital providers throughout India, with greater than 388 million subscribers. Jio Platforms has made important investments throughout its digital ecosystem, powered by main applied sciences spanning broadband connectivity, sensible units, cloud and edge computing, massive information analytics, synthetic intelligence, Internet of Things, augmented and blended actuality and blockchain.
ADIA, estimated to have property of nearly $700 billion, has invested in 18 firms, in accordance to information from Crunchbase. ADIA has lengthy been spending cash in Indian equities, even appearing as an anchor investor in a number of IPOs, and glued earnings.
“ADIA has invested in private equity since 1989 and has built a significant internal team of specialists with experience across asset products, geographies and sectors,” RIL’s press launch mentioned.
In April 2019, ADIA and India’s National Investment and Infrastructure Fund (NIIF) agreed to purchase a 49 % stake in the airport unit of Indian conglomerate GVK Power & Infrastructure. It invested one other $495 million in renewable power agency Greenko Energy Holdings, which runs wind, photo voltaic and hydro initiatives, in 2019. ADIA was additionally a number one investor in Bandhan Bank’s IPO.
ADIA has been investing funds on behalf of the Abu Dhabi authorities since 1976 with a deal with lengthy-time period worth creation. It manages a world funding portfolio that’s diversified throughout greater than two dozen asset courses and sub-classes, in accordance to its web site.
(Disclaimer: Reliance Industries Ltd. is the only beneficiary of Independent Media Trust which controls Community18 Media & Investments Ltd which publishes Firstpost)