/RIL on a deal spree, gets eighth cheque for Jio Platforms

RIL on a deal spree, gets eighth cheque for Jio Platforms

MUMBAI: Oil-to-telecom conglomerate Reliance Industries (RIL) said on Sunday it has received its eighth investment for Jio Platforms with the Abu Dhabi Investment Authority (ADIA) signing up to buy 1.16 per cent stake for an investment of Rs 5,683.50 crore.

This investment values Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore. ADIA’s investment will translate into a 1.16 per cent equity stake in Jio Platforms on a fully diluted basis.

With this investment, Jio Platforms has raised Rs 97,885.65 crore from global investors including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala and ADIA in less than seven weeks.

On Friday, RIL had announced investments from two investors – US-based private equity major Silver Lake and Abu Dhabi-based sovereign investor Mubadala Investment Company.

ET Bureau

Reliance Jio Investors

Mukesh Ambani-led RIL is India’s most-valued company, with a market capitalization of more than Rs 10 lakh crore.

For the year to date, the stock is up 4.4 per cent, outperforming benchmark Sensex which has dropped 17 per cent in the same period. The stock hit a record high of Rs 1,617.70 earlier on Friday.

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