Reliance Industries Limited (RIL) chairman Mukesh Ambani once again proved that he is the country’s top entrepreneur, with practical ideas. The dashing business icon strikes another deal with a UAE based Mubadala Investment Company.
Mubadala to inject Rs 9,093.6 crore
Abu Dhabi sovereign fund Mubadala Investment Company is ready to invest INR 9,093.6 crore in Jio Platforms. The Dubai based company will buy a 1.85 per cent stake. It is the sixth major deal by the RIL digital unit within one and a half months.
Jio Platform raises INR 87,655.35 crore
With the considerable investment by Mubadala, the total amount of investments that Jio Platforms has accumulated is an impressive number of INR 87,655.35 crore since April 22, 2020. All these investments are from well-known global technology and growth investors such as Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR. The deal with Mubadala has added another feather in RIL’s cap.
Mukesh Ambani, chairman and managing director of Reliance Industries (RIL), said “he was delighted that Mubadala, one of the most astute and transformational global growth investors, has decided to partner his company in its journey to propel India’s digital growth towards becoming a leading digital nation in the world”.
Mubadala invests in many segments
The investment from Mubadala, which manages about $229 billion in assets, at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore. As per the statement by RIL.
Mubadala is a famous global investment company and owns an electronic chip manufacturing company, GlobalFoundries. The company has made investments in various segments such as petroleum, renewable energy, aerospace, satellite communications, agriculture, healthcare, metals, and mining.
Investors’ stake of the last six significant deals made by RIL (JIO Platform)
Huge subscribers of Jio Infocomm
The deal with Mubadala has boosted the status of Jio Platforms as the tech powerhouse in India’s booming digital economy. Six companies recently have made a significant investment in the Jio platform. Jio technologies are comprising broadband connectivity, smart devices, big data analytics, and so on. Jio Infocomm is a major telecom player in the country/. It has over 388 million subscribers in India. Most importantly, it was launched in 2016.
Khaldoon Al Mubarak, managing director, and group CEO, Mubadala Investment Company, said his company is committed to investing in, and actively working with, high-growth companies that are pioneering technologies to address critical challenges and unlock new opportunities.
It is undeniable that Jio has brought a revolution in communications and connectivity in India. Therefore, Mubadala has seen tremendous growth, so decided to invest in India’s digital growth journey and economy. The Dubai based company has business presence and investments in more than 50 countries around the world.