Abu Dhabi Investment Authority, one of the largest sovereign wealth funds in the world, will invest Rs 5,683.5 crore in Jio Platforms. It will be joining A-list global tech investors that have spent millions of dollars in this RIL unit as they believe it has the potential to dominate India’s booming digital economy.
This decision for a 1.16% stake is an unprecedented eighth investment in Jio Platforms. It is the largest continuous fundraising action by any company in the world. RIL has now sold a little over 21 percent stake in Jio Platforms through multiple fundraising deals and raised as much as Rs 97,885.65 crore, or $12.96 billion.
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 generate inclusive growth opportunities. This investment is a strong endorsement of our strategy and India’s potential.”
Hamad Shahwan Aldhaheri, Executive Director of the Private Equities Department at ADIA, said, “Our investment in Jio is a further demonstration of ADIA’s ability to draw on deep regional and sector expertise to invest globally in market leading companies and alongside proven partners.”
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