Web desk 06/05/2020
Abu Dhabi-based sovereign fund Mubadala Investment Company will infuse $1.2 billion (Rs.9,093.6 crore) into India’s Reliance Industries owned Jio Platforms. The deal will give Mubadala 1.85 percent share in the company, according to reports.
With this Jio has sold 18.97 per cent in six fundraising deals to take the total amount raised to Rs 87,655.35 crore.
Facebook bought 9.99 per cent investing Rs 43,574 crore to buy 9.99 percent in late April 2020.
Reliance is owned by Indian billionaire Mukesh Ambani.
With the latest investment, Jio has raised $11.6 billion (Dh43 billion) from leading global technology and investment funds, according to a report in the Gulf News daily.
Mubadala is billed as the second-biggest state investor after Abu Dhabi Investment Authority. It has more than 50 businesses and investments in more than 50 countries. Mubadala has offices in Rio de Janeiro, Moscow, New York and San Francisco, with a joint venture in Hong Kong.
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