NEW DELHI: Reliance Industries on Friday announced the sale of 1.85% stake in its digital unit to Abu Dhabi-based sovereign investor Mubadala for Rs 9,093.60 crore, the sixth deal in as many weeks that will inject a combined Rs 87,655.35 crore in the oil-to-telecom conglomerate to help it pare debt.
“Mubadala Investment Company will invest Rs 9,093.60 crore in Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore,” it said.
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.
Facebook picked up 9.99% stake in the firm that houses India’s youngest but largest telecom firm on April 22 for Rs 43,574 crore. Within days of that deal, Silver Lake the world’s largest tech investor bought a 1.15% stake in Jio Platforms for Rs 5,665.75 crore.