New Delhi: On Friday, billionaire Mukesh Ambani-led Reliance Industries announced that Abu Dhabi’s Mubadala Investment Company (Mubadala), will take a 1.85 per cent equity stake in the conglomerate’s digital unit, Jio Platforms for Rs 9,093.60 crore.
The investment in Jio Platforms – which houses Reliance Industries’s telecoms arm Reliance Jio Infocomm – comes at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore, it said in a statement released early on Friday.
The deal marked Mubadala’s largest investment in an Indian firm. Abu Dhabi’s state-run Mubadala Investment Company is a sovereign investor managing a global portfolio to generate financial returns. It is the second-biggest state investor in Abu Dhabi after Abu Dhabi Investment Authority (ADIA), managing about $240 billion in assets.