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Abu Dhabi Investment Authority invests Rs 5,683.50 cr for 1.16% stake in Jio Platforms

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ADIA picks 1On June 07, 2020, Abu Dhabi Investment Authority (ADIA), one of the world’s biggest sovereign wealth funds, has invested Rs 5,683.50 crore for a 1.16 % stake in Jio platforms, a subsidiary of Asia’s richest man Mukesh Ambani-controlled Reliance Industries Ltd (RIL).

Eigth major investment in seven weeks:

  • With this investment,  a total of Rs 97,885.65 crore has been invested for 21.06% equity in Jio platforms through 8 investments. The investment began with Facebook on April 22,2020 followed by additional investments by Silver Lake (2 investments), Vista Equity Partners, General Atlantic, KKR and Mubadala in the past nearly seven weeks.

Key Points:

i.With this latest investment, the equity value of Jio platform is Rs 4.91 lakh crore and the enterprise value is 5.16 lakh crore & also represents an important component of the revival of the Indian economy as severe economic crisis caused by the coronavirus (COVID-19) pandemic.

ii.Earlier On June 05, 2020, US(United States) private equity firm Silver Lake Partners announced to invest Rs 4,546.80 crore for an additional 0.93% stake after it had invested Rs 5,655.75 crore for a 1.15% stake. On the same day itself, Abu Dhabi-based investment company Mubadala bought 1.85 % stake for Rs 9,093.60 crore.

About Abu Dhabi Investment Authority (ADIA):

Headquarters– Abu Dhabi, United Arab Emirates
Managing Director– Hamed bin Zayed Al Nahyan
Chairman – Khalifa bin Zayed bin Sultan Al Nahyan

About Reliance Industries Ltd:
Headquarters– Mumbai, Maharashtra
Chairman and MD– Mukesh Ambani