Barely two days after Abu Dhabi-based sovereign wealth fund Mubadala picked up stake in Jio Platforms, another marquee sovereign fund Abu Dhabi Investment Authority, or ADIA, has picked up equity in the company.
This is the eight bulge-bracket investment in Reliance Industries’ (RIL) subsidiary in less than seven weeks. With this, RIL has raised about $13 billion (Rs 97,885.65 crore) from global investors. Along with rights issue amount of Rs 53, 124 crore, RIL has now raised at least Rs 1.51 lakh crore, which is almost half of the market capitalisation of Jio’s closest telecom sector competitor Bharti Airtel.
In this edition of 3 Point Analysis, Moneycontrol's Sakshi Batra explains the contours of the deal and what's the outlook going forward?
Disclaimer: Reliance Industries, which also owns Jio, is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments.
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