RIL up 2%, hits new high as Abu Dhabi’s Mubadala to buy 1.85% stake in Jio

Shares of Reliance Industries (RIL) hit a new high of Rs 1,618, up 2.4 per cent on the BSE on Friday after the company said that Abu Dhabi state fund Mubadala Investment Co will buy a 1.85 per cent stake in its digital unit, Jio Platforms, for Rs 9,093.6 crore. The stock surpassed its previous high of Rs 1,603 touched on December 20, 2019.

With this investment, Jio Platforms has raised Rs 87,655.35 crore from leading global technology and growth investors including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, and Mubadala in less than six weeks.

RIL has now sold a combined 19 per cent interest in Jio Platforms, which houses movies, music apps, and telecoms venture Jio Infocomm, in six fundraising deals including a 9.99 per cent stake sale to Facebook Inc for $5.7 billion.