Abu Dhabi Investment Authority to invest Rs 5,683.50 cr in Jio Platforms

[ad_1]

Business Standard

Jio Platforms, a wholly-owned subsidiary of Reliance Industries, is a next-generation technology platform focused on providing high-quality and affordable digital services across India

Topics
Jio | RIL

BS Web Team |
Mumbai
Last Updated at June 7, 2020 19:38 IST

Reliance Industries Limited (RIL) and Jio Platforms Limited, on Sunday announced an investment of Rs 5,683.50 crore by a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA). This investment values Jio Platforms at an equity value of Rs 4.91 trillion and an enterprise value of Rs 5.16 trillion. ADIA’sinvestment will translate into a 1.16{f08ff3a0ad7db12f5b424ba38f473ff67b97b420df338baa81683bbacd458fca} equity stakein Jio Platforms on a fully diluted basis. With this investment, Jio Platforms has raised Rs 97,885.65 crore from leading globalinvestors including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala and ADIA in less than seven weeks.

Jio Platforms, a wholly-owned subsidiary of Reliance Industries, is a next-generation technology platform focused on providing high-quality and affordable digital services across India, with more than 388 million subscribers. Jio Platforms has made significant investments across its digital ecosystem, powered by leading technologies spanning broadband connectivity, smart devices, cloud and edge computing, big data analytics, artificial intelligence, Internet of Things, augmented and mixed reality and blockchain.

First Published: Sun, June 07 2020. 19:31 IST

‘;if(neverShowNotificaitonCookie==”||neverShowNotificaitonCookie==’undefined’||neverShowNotificaitonCookie==null){var lastReminderCookie=getCookie(‘_ler’+loginParamObj.uId);if((lastReminderCookie==””)||(lastReminderCookie==”undefined”)||(lastReminderCookie==null))$(‘body’).prepend(notificationBox);elseif(lastReminderCookie‘);$(“#loading_invoice”).show();var _id=this.id;$.ajax({“type”:”POST”,”url”:”https://api.business-standard.com/user/api/generate-user-invoice”,”data”:”request_id”:loginParamObj.uId,”success”:function(data)$(“#generate_invoice”).text(‘click here’);resopnseObject=JSON.parse(data);if(resopnseObject.status==’success’)if(resopnseObject.tinyUrl!=””elsealert(“Your request has been registered by us. We will contact you soon”);generateInvoice2=function()alert(“Your request has been registered by us. We will contact you soon”);;remindNotificationLater(loginParamObj.uId);$(“#loading_invoice”).hide();});return false;}}}}}});function remindNotificationLater(userId)var currentTimestamp=Math.floor(Date.now()/1000);var tempTime=new Date(currentTimestamp*1000);var lastExpNotification=Math.floor(tempTime.setMinutes(tempTime.getMinutes()+60)/1000);var d=new Date();d.setTime(d.getTime()+(60*60*1000));var expires=”expires=”+d.toUTCString();document.cookie=”_ler”+userId+”=”+lastExpNotification+”; “+expires+”; path=/”;$(‘#endSubscriptionNotification’).remove();function closeNotificationForever(userId)var neverShowNotificaitonCookie=getCookie(‘_nsn’);neverShowNotificaitonCookie+=”,”+userId;var d=new Date();d.setTime(d.getTime()+(30*24*60*60*1000));var expires=”expires=”+d.toUTCString();document.cookie=”_nsn=”+neverShowNotificaitonCookie+”; “+expires+”; path=/”;$(‘#endSubscriptionNotification’).remove();function popupOpen(shareHref)var fullHref=shareHref+window.location.href;window.open(fullHref,’fbShareWindow’,’height=450, width=550, top=’+($(window).height()/2-275)+’, left=’+($(window).width()/2-225)+’, toolbar=0, location=0, menubar=0, directories=0, scrollbars=0′);