Mubadala Investment Company will buy 1.85 per cent stake in India’s Reliance Industries owned Jio Platforms for $1.2 billion (AED 4.4 billion).
With this investment, Jio Platforms has raised $11.6 billion (AED 43 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.
"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," said Khaldoon Al Mubarak, Managing Director and Group CEO, Mubadala Investment Company.
Jio Platforms, a wholly-owned subsidiary of Reliance Industries, is a next-generation technology platform focused on providing high-quality and affordable digital services across India, with more than 388 million subscribers
"I am delighted that Mubadala, one of the most astute and transformational global growth investors, has decided to partner us in our journey to propel India’s digital growth towards becoming a leading digital nation in the world," said Mukesh Ambani, Chairman and Managing director of Reliance Industries.
Mubadala's investments are set to advance Abu Dhabi’s diversified, globally integrated economy across sectors that are driving global growth and addressing critical challenges.
.@Mubadala will invest AED4.4bn (USD 1.2B) in Jio Platforms, India’s leading digital services platform. Focused on providing high-quality and affordable digital services across India, it has more than 388m subscribers. pic.twitter.com/zPG9GzchRk— مكتب أبوظبي الإعلامي (@admediaoffice) June 4, 2020