Abu Dhabi Investment Authority buys 1.16% stake in Reliance Jio for Rs 5,683.50 crore

Striking its seventh deal in the last seven weeks, Reliance Jio on Sunday said a subsidiary of Abu Dhabi Investment Authority (ADIA) will invest Rs 5,683.50 crore for a 1.16% equity stake in Jio Platforms. The transaction values Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore.

With the latest investment the company has got a total investment of Rs 97,885.65 crore from eight deals as Silver Lake and it co-investors made an additional investment on Friday. These successive stake sales are part of parent Reliance Industries’ (RIL) plans to be debt-free by the end of this fiscal. It raised Rs 53,124 crore via a rights issue that closed 4 June. RIL’s net debt currently stands at Rs 1.6 lakh crore.