Mubadala invests $1.2 billion in Jio Platforms for a 1.85 equity stake

What's the Deal

Mita Srinivasan
What's the Deal
Published:

Mubadala invests $1.2 billion in Jio Platforms for a 1.85 equity stake

Investment part of Mubadala’s mandate to advance the interests of Abu Dhabi’s global diversified economy

Mubadala Investment Company (Mubadala), the Abu Dhabi-based sovereign investor, will invest $1.2 billion (Dh4.4 billion) in Jio Platforms at an equity value of $65 billion (Dh239 billion) and an enterprise value of $68 billion (Dh250 billion) in an announcement from Reliance Industries. Mubadala's investment will translate into a 1.85 per cent equity stake in Jio Platforms on a fully diluted basis. The transaction is subject to regulatory and other customary approvals.

With this investment, Jio Platforms has raised $11.6 billion (Dh43 billion) from leading global technology and growth investors including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR and Mubadala in less than six weeks.

Khaldoon Al Mubarak, Managing Director and Group CEO, Mubadala Investment Company, said, "We are committed to investing in, and actively working with, high growth companies which are pioneering technologies to address critical challenges and unlock new opportunities. We have seen how Jio has already transformed communications and connectivity in India, and as an investor and partner, we are committed to supporting India's digital growth journey. With Jio’s network of investors and partners, we believe that the platform company will further the development of the digital economy."

Mubadala invests and partners to advance Abu Dhabi’s diversified, globally integrated economy across sectors that are driving global growth and addressing critical challenges. A significant aspect of this mandate is transformative information and communications technology investments which include cognitive computing, ICT infrastructure, telecoms, and satellite operations.

To further its commitment to innovation and technology, Mubadala established its Ventures arm in 2017 to partner early with visionary founders and support innovative businesses. Mubadala’s Ventures business currently manages several venture funds in the US, Europe and Middle East. Today, Mubadala’s portfolio spans advanced manufacturing, semiconductors, metals & mining, pharmaceutical and medical technology, renewable energy and utilities, and the management of diverse financial holdings.