Jio’s lockdown stake sale, this time to Abu Dhabi sovereign fund for ₹5,683 cr

NEW DELHI: Jio Platforms will raise Rs5,683.50 crore from Abu Dhabi Investment Authority (ADIA) against 1.16% stake sale to the sovereign wealth fund, according to a release issued on Sunday by the Reliance Industries Limited subsidiary.

The transaction gives Jio Platforms an equity valuation of Rs4.91 trillion and an enterprise value of Rs5.16 trillion, the same as most of the eight deals have taken place at.

Jio Platforms had announced two stake sales on Friday, the first being that of 1.85% equity for Rs9,093.60 crore to Abu Dhabi’s Mubadala Investment Company and the other being of around 1% for Rs4,546 crore to an existing set of investors including private equity Silver Lake.