• About
  • Contact
Sunday, April 18, 2021
Next Big Brand
  • .
  • News
  • Internet
  • Startup
  • OTT
  • Industries
  • FMCG
  • Cryptocurrency
  • Retail
  • Tech
  • Case Study
  • Interview
No Result
View All Result
Next Big Brand
Home News

Abu Dhabi Investment Authority (ADIA) Invests ₹ 5,683 Crores In Jio Platforms

Pritish raj by Pritish raj
June 8, 2020
in News, Tech
3 min read
0
Reliance Jio Platforms ADIA Digital Users UPI- Next Big Brand

Jio UPI- Next Big Brand

Share on FacebookShare on Twitter
  • Reliance Industries Ltd (RIL) said on Sunday that an Abu Dhabi Investment Authority (ADIA) unit has invested Rs. 5,683.50 crores in Jio Platforms.

Reliance Industries Ltd (RIL) said on Sunday that an Abu Dhabi Investment Authority (ADIA) unit has invested Rs. 5,683.50 crores in Jio Platforms, taking the total capital raised by its digital services subsidiary in just seven weeks to around 1 trillion.

The investment by an unidentified, wholly-owned ADIA subsidiary, valuing Jio Platforms at approximately $4.91 trillion, comes only two days after RIL revealed two major investments by foreign investors adding up to some $113,640.4 in Jio Platform.

“I am delighted that ADIA, with its track record of more than four decades of productive long-term value investment worldwide, is partnering with Jio Platforms in its mission of taking India to digital leadership and creating opportunities for inclusive development. This investment reflects a clear endorsement of our plan and the potential of India, “said Mukesh Ambani, president, and managing director of RIL.

With this fund, Jio Projects raised approximately $97,885.65 from seven global investors.

Mubadala Investment Co., based in Abu Dhabi, purchased a 1.85 percent stake in Jio Platforms for 9,093.60 crores on Friday. Later that day, RIL said Silver Lake, which had previously invested some 5,655,75 crores in Jio Platforms on 4 May, committed to investing an additional 4,546,80 crore along with its co-investors, taking its aggregate investment to some 10,202,55 crores, for a stake of 2,08 percent.

Since April ‘s end, Jio Platforms has been on a spree to raise capital. Jio Projects has sold stakes to private equity firms KKR & Co., Silver Lake, Vista Equity Partners, General Atlantic, Mubadala, and now ADIA, beginning with Facebook’s 43,574 crore investment in April.

The latest investment will fully dilute ADIA’s 1.16 percent stake in Jio Platforms, RIL said.

ADIA is a globally diversified investment institution that invests funds on behalf of the Abu Dhabi government through a long-term value-creating strategy. It has various investments in India, mostly through its department of private equities.

“Jio Projects is at the forefront of India’s digital revolution, poised to benefit from significant socio-economic changes and technology’s transformative impact on people’s way of living and working. Building on a strong track record of strategic execution, the rapid growth of the company, which has established itself as a market leader in just four years, said Hamad Shahwan Aldhaheri, executive director of private equities at ADIA.

“Our investment in Jio is yet another demonstration of the ability of ADIA to draw on deep regional and sector expertise to invest globally in market-leading companies and alongside proven partners,” Aldhaheri said.

Jio, with 388 million subscribers, brings together all RIL digital and telecom projects, including Jio digital services, smartphone and broadband, applications, tech technologies such as artificial intelligence, big data and the Internet of Things, and other investments such as Den Networks, Hathway Cable and Datacom.

Previous Post

Cristiano Ronaldo Becomes 1st Footballer To Become A Billionaire

Next Post

Kylie Jenner Remains Highest-Earning Celebrity In World, Followed By Kanye West

Pritish raj

Pritish raj

Pritish Raj is a content writer at Next Big Brand. Hailing from the diversified state of Bihar, he is an engineer by education who chooses the way of poetry, photography, and writing to kick off his career. Highly enthusiastic about brands and startups, he aims to be a travel content creator.

Related Posts

Pine Labs Acquires Fave in Deal Valued over $45 Million
Case Study

Pine Labs – Transforming the Digital Transaction Environment

April 17, 2021
Gupshup Raises $100 Million, Joins Unicorn Club
Case Study

Gupshup: Providing Secured Feature Rich Bot Platforms to its Clients

April 17, 2021
boAt Raises Rs 50 Crore from Qualcomm Ventures
Media

boAt Raises Rs 50 Crore from Qualcomm Ventures

April 16, 2021
60% of Indian CMOs to have budgets for influencer marketing in 2021:ClanConnect
Case Study

60% of Indian CMOs to have budgets for influencer marketing in 2021:ClanConnect

April 16, 2021
Sachin Bansal’s Chaitanya India Fin Credit Applies for Universal Bank License
Industries

Sachin Bansal’s Chaitanya India Fin Credit Applies for Universal Bank License

April 16, 2021
Vahdam India Recorded a 110% YoY Growth in FY21
Food

Vahdam India Recorded a 110% YoY Growth in FY21

April 15, 2021
Next Post
Kylie Jenner- next Big brand

Kylie Jenner Remains Highest-Earning Celebrity In World, Followed By Kanye West

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

RECOMMENDED NEWS

Hike Messaging App Shuts Down: Vanishes from Play Store and App Store

Hike Messaging App Shuts Down: Vanishes from Play Store and App Store

3 months ago
hdfc-next-big-brand

HDFC Share Price Rises, 4th most-valued firm in terms of market valuation

2 years ago
YouTube Gaming Channels India

The Sudden Rise & Growth Of YouTube Gaming Channels In India

4 months ago
the new york times logo

Digital Revenue Of New York Times (NYT) Crosses Print Revenue For First Time

9 months ago

FOLLOW US

  • 33.8k Fans

BROWSE BY TOPICS

2018 League amazon Amazon Great Indian Sale Amazon Prime Apple Apple Inc Automobile Industry Balinese Culture Bali United Budget Travel Champions League Chopper Bike Doctor Terawan facebook Facebook app future group hotstar Indian OTT Platforms Indian Smartphone Market Istana Negara Jio Market Stories Maruti Suzuki National Exam Netflix Netflix India Netflix Originals oppo OTT OYO Realme Reliance Industries Limited Reliance Jio RIL Samsung Tata Motors Tiktok TikTok India TikTok Videos Visit Bali Vivo whatsapp Xiaomi Xiaomi India YouTube
Next Big Brand

We Talk About Brands

Follow us on social media:

Recent News

  • Pine Labs – Transforming the Digital Transaction Environment
  • Gupshup: Providing Secured Feature Rich Bot Platforms to its Clients
  • boAt Raises Rs 50 Crore from Qualcomm Ventures

Instagram

Follow Me!

Latest News

Pine Labs Acquires Fave in Deal Valued over $45 Million

Pine Labs – Transforming the Digital Transaction Environment

April 17, 2021
Gupshup Raises $100 Million, Joins Unicorn Club

Gupshup: Providing Secured Feature Rich Bot Platforms to its Clients

April 17, 2021
  • About Us
  • Privacy Policy
  • Terms and Conditions
  • Disclaimer
  • DMCA Policy
  • Our Team
  • Contact Us
  • Sitemap

© 2019 NBB. All Rights Reserved.

No Result
View All Result
  • .
  • News
  • Internet
  • Startup
  • OTT
  • Industries
  • FMCG
  • Cryptocurrency
  • Retail
  • Tech
  • Case Study
  • Interview

© 2019 NBB. All Rights Reserved.

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.