RIL’s Jio Platforms gets one more investor, Mubadala to buy 1.85% for Rs9,094 cr

NEW DELHI: Abu Dhabi-based sovereign investor Mubadala Investment Company will buy 1.85% stake in Mukesh Ambani’s Jio Platforms for ₹9,093.60 crore, the Reliance Industries Ltd subsidiary said in a release on Friday. The latest transaction gives Jio Platforms an equity valuation of Rs4.91 trillion and an enterprise value of Rs5.16 trillion, the same pricing at which private equity giant KKR bought a 2.32% stake in Jio, the last deal, declared on 22 May.

The Mubadala transaction is the six stake sale announced by Jio in less than seven weeks. With the latest deal, Jio has raised Rs87,655.35 crore by selling 18.97% of its stake to six investors that also include Facebook, Silver Lake, Vista Equity Partners and General Atlantic.

The first and the largest stake sale out of the six was that of 9.99% to Facebook for Rs43,573.62 crore, announced on 22 April.