Jio Platforms raises Rs 5,683.50 crores from Abu Dhabi Investment Authority

Continuing its fund-raising spree, Jio Platforms, a subsidiary of Asia’s richest man Mukesh Ambani-controlled Reliance Industries Ltd (RIL), has raised Rs 5,683.50 crore from Abu Dhabi Investment Authority (ADIA). This is the eighth in a series of fund raising by Jio Platforms since April 22.

ADIA’s investment will translate into a 1.16 per cent equity stake in Jio Platforms on a fully diluted basis, RIL said in a regulatory filing.

With the latest round, Jio Platforms has raised a total of Rs 97,885.65 crore from global technology and growth investors such as Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR and Mubadala. It raised two rounds of funding from Silver Lake in the past seven weeks.