Jio Platforms gets new potential stake holders like Mubadala, ADIA and PIF

Abu Dhabi Investment Authority has shown interest for gaining a minority stake in Reliance Industries-owned Jio Platforms. The wealthy fund sovereign seeks opportunities like these from around the world. The ADIA has done this following its sister firm Mubadala. Mubadala is one of the UAE’s largest sovereign wealth funds. That has already begun its discussions with Ambani’s Reliance Industries.

It still remains unclear with these deals floating rumors worldwide. People are unaware of the money that will be paid to obtain stake in the Indian Mega Company. However, it is easily anticipated that at least a decent amount close to 2 Billion US Dollars will be made. This comes around approximately 15,000 Crore Indian Rupees. This was half of Ambani’s company’s annual revenue the previous year. Saudi Arabia’s sovereign wealth fund Public Investment Fund (PIF) too will hop in to throw its ring in the game.

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“This is probably the last tranche of stake sales in Jio Platforms. It’s likely to be announced shortly.” A close investor stated. “PIF could be the largest investor in this group.” ADIA is part of a consortium that has been engaged with Reliance for months to buy into its pan-India fibre network. It is also a rare case of both UAE funds scoping the same investment opportunity.

Reliance has targeted raising Rs 85,000-Rs 90,000 Crore from stake sales in Jio Platforms. It has so far drawn Rs 78,562 Crore in planned investments from Facebook and private equity funds Silver Lake, Vista Equity Partners, General Atlantic and KKR for a combined holding of 17.12%.An investment of $1.5 billion could get a stake of just over 2%, experts said. KKR paid Rs 11,367 Crore for a 2.32% stake in Jio Platforms, pegging its equity value at Rs 4.91 Lakh Crore.