Jio Platforms: sixth major investment in six weeks, Abu Dhabi's company will buy stake

Posted on 5th Jun 2020 12:11 pm by rohit kumar

Another foreign company is going to invest in Reliance's Jio platforms. Abu Dhabi's Mubadala Investment Company is going to invest Rs 9,093.60 crore in Jio Platforms and it will buy 1.85 per cent stake. This is the sixth major foreign investment in Jio platforms in the last six weeks.

 

Here the chairman and managing director of Jio has expressed happiness over the investment. In a statement, Mukesh Ambani said that with Mubadala and Jio working together, India is definitely on its way to becoming the largest digital country in the world.

Mukesh Ambani further said that he has personally seen the impact of Mubadala's work through his long-standing relationship with Abu Dhabi. He says he hopes the company will benefit from Mubadala's experience.

 

Earlier, KKR, Facebook, Silver Lake, Vista, General Atlantic had recently invested in Jio platforms. These five companies jointly invested a total of Rs 78,562 crore. Now after Mubadala's investment of more than nine thousand crores, the total investment of investment has been Rs 87,655 crores.

 

Khaladun Al Mubarak, managing director and group CEO of Mubadala Investment Company, said his company is committed to working with and investing in high-growth companies. He said that we have seen how Jio has already changed communication and connectivity in India.

 

Khaladun said that as an investor and partner we are committed to supporting India's digital development journey. With Jio's network of investors and partners, we are confident that the company will drive the growth of the digital economy.

 

The sale of stake will make Reliance the first company to have no debt by March 2021. At the same time till March, the total debt of Reliance Company was Rs 1.61 lakh crore.

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