Moneycontrol
Last Updated : Jun 05, 2020 09:23 AM IST | Source: Moneycontrol.com

RIL hits record high on Rs 9,093-crore investment by Abu Dhabi fund

The investment will translate into a 1.85 percent equity stake in Jio Platforms on a fully diluted basis.

 
 
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Reliance Industries (RIL) share price touched record high of Rs 1,614.95, rising 2 percent in the opening trade on June 5 after announcement that Abu Dhabi fund is going to invest Rs 9,093 crore in its digital arm.

Mubadala Investment Company, the Abu Dhabi-based sovereign investor, will invest Rs 9,093.60 crore in Jio Platform at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore, as per RIL release.

The investment will translate into a 1.85 percent equity stake in Jio Platforms on a fully diluted basis.

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With this investment, Jio Platforms has raised Rs 87,655.35 crore from leading global technology and growth investors including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR and Mubadala in less than six weeks.

“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.

Also Read - 5 key points to know about Mubadala-Reliance Jio deal

Morgan Stanley acted as financial advisor to Reliance Industries and AZB & Partners, and Davis Polk & Wardwell acted as legal counsel.

The transaction is subject to regulatory and other customary approvals.

At 09:16 hrs Reliance Industries was quoting at Rs 1,610.30, up Rs 30.35, or 1.92 percent on the BSE.

Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.
First Published on Jun 5, 2020 09:21 am
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