INTRO: Reliance Group of Industries maintaining its spree of investments from all the high-profile foreign investors over the past couple of months, Reliance Industries (RIL) has now recently announced that the Abu Dhabi government’s largest investment in the vehicle is set to infuse Rs. 5,863.50 crores into Jio Platforms for a 1.16% stake in the company.
In a press release on Sunday, Reliance Industries said that the investment from the Abu Dhabi Investment Authority (AIDA) will hike up the Jio Platforms’ equity value at Rs 4.91 lakh crore and enterprise value at Rs 5.16 lakh crore. AIDA is the seventh investor which has picked up a stake in Jio Platforms recently. With this latest investment, Reliance Industries Limited will have sold a 21.06% stake in the company for Rs. 97,885.65 crores.
This is one of the latest in a series of blockbuster investments in the digital arm of India’s largest conglomerate for now. It follows the announcement last week of an Rs. 9093.6 crore investment from another Abu Dhabi sovereign fund, that is Mubadala Investment. It was followed by an additional fund infusion of Rs. 4,546.80 crores from US private equity fund, Silver Lake, which had already invested Rs. 5,655.75 crores in Jio Platforms earlier at the beginning of the month.
As before to the aforementioned deals, Reliance announced a series of other mega investments in Jio Platforms, none of them are more prominent than a 9.9% stake sale to Facebook in April for Rs. 43,574 crores. The first round of investment from Silver Lake came soon after that deal only, followed by deals with various global equity funds.
In the month of May, US-based Vista Equity Partners bought a 2.32 percent stake in Jio Platforms for Rs. 11,367 crores. Few Days, Later on, the global equity firm, General Atlantic, picked up a 1.34 percent stake in the company. Thereafter, a US-based private equity firm, KKR, bought a 2.32 percent stake in Jio Platforms for Rs. 11,367 crores. Reliance Group of Industries are making their business-wide to an international reach.