Reliance Jio has played an essential role in bringing the digital revolution in India and making India a prominent place among the world’s most tremendous digital forces. In this lockdown, Reliance Industries’ telecom company Jio has received six significant foreign investments, one after the other. This time the company of Abu Dhabi has invested in Reliance Jio. According to the information, Abu Dhabi-based company Mubadala will buy a 1.85 percent stake in Reliance Jio, and this deal is worth 9,093.60 crores.
This is the sixth deal by Reliance in the last few weeks, through which a total of Rs 87,655.35 crore has got raised so far in Reliance’s wallet. Before Mubadala, Facebook, Silver Lake, Vista Equity Partners, General Atlantic, and KKR have announced investments in Jio. In this way, Jio has sold about 19 percent of its stakes. The amount of investment made by these companies or investors will help Reliance Industries to become debt-free soon.
Khaldun Al Mubarak, managing director of Mubadala Investment Company on this investment, stated that Jio has already changed communication and connectivity in India. As an investor and partner, Mubadala firm is committed to supporting India’s digital development journey.
Earlier, KKR, Facebook, Silver Lake, Vista, General Atlantic had recently invested in Jio Platforms. These five companies jointly spent a total of Rs 78,562 crore. Now after Mubadala’s investment of more than nine thousand crores, the total investment amount has been Rs 87,655 crores.
Mukesh Ambani, Chairman and Managing Director of Reliance Industries, said, “I am delighted that Mubadala, one of the world’s best and transformative investors, has decided to partner with us. The firm will be a partner in our journey to make India a digital nation. I have a long-standing relationship with Dhabi. I have seen that Mubadala has done a tremendous job in connecting the UAE’s knowledge-based economy to the world and coloring diversity. Reliance looks forward to benefiting from Mubadala’s experience.