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ADIA invests in Reliance Jio platform

Date: 09 June 2020 Tags: Miscellaneous
  • Reliance Industries said it sold 1.16 percent stake in its digital unit to Abu Dhabi Investment Authority (ADIA) for ? 5,683.50 crores, taking the cumulative fundraising to ? 97,885.65 crores.
  • This investment values Jio Platforms at an equity value of ? 4.91 lakh crore and an enterprise value of ? 5.16 lakh crore. ADIA's investment will translate into a 1.16 percent equity stake in Jio Platforms on a fully diluted basis.
  • With these investment, Reliance has sold all of the targeted 21 percent equity in Jio Platforms ahead of a potential IPO. Jio Platforms, a wholly-owned subsidiary of Reliance Industries Ltd, is a next-generation technology company.