Reliance Jio platforms, one of the fastest-growing digital service provider company in India and third-largest in the world, cracked eighth deal in less the seven weeks during the pandemic.
The three-and-a-half-year-old Jio Platforms has marked seven arrangements with worldwide financial specialists including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, and Mubadala.
Recently, the company has announced that it will sell a stake of 1.16 per cent of $750 million to Abu Dhabi Investment Authority (ADIA), proceeding with its eye-getting run of ventures during a worldwide pandemic.
BW Businessworld dug in details to find out more about the deal:
1. Reliance Industries sold its 1.16 per cent stake in its computerized unit to Abu Dhabi Investment Authority (ADIA) for Rs 5,683.50 crore, taking the total gathering pledges to Rs 97,885.65 crore that will help pare obligation at the oil-to-telecom combination.
2. ADIA is a UAE-based sovereign wealth fund (SWF), simply like Mubadala, which will put Rs 9,093.60 crore in Mukesh Ambani drove Jio Platforms for 1.85 per cent stake.
3. AIDA-JIO arrangement will esteem Jio Platforms at an undertaking estimation of Rs 5.16 lakh crore, is currently dependent upon administrative endorsements.
4. After all these ventures, Reliance has sold the intended 21 per cent value in Jio Platforms in front of a potential IPO.
5. The net worth of Jio platforms raised to almost 2.6 billion US Dollars.
6. AIDA is a UAE based subsidiary company owned by Emirate of Abu Dhabi with the net worth of 7, 629.2 cr.
7. ADIA's venture will convert into a 1.16 per cent value stake in Jio Platforms on a completely improvised grounds.
Chairman and Managing Director of Reliance Industries Mukesh Ambani said “ I am delighted that ADIA, with its track record of more than four decades of successful long-term value investing across the world, is partnering with Jio Platforms in its mission to take India to digital leadership and generated inclusive growth opportunities. This investment is s strong endorsement of our strategy and India’s potential.”