Now ADIA will invest Rs 5,683.50 crore

Reliance Industries Limited (RIL) on Sunday announced that a wholly owned subsidiary of Abu Dhabi Investment Authority (ADIA) will invest Rs 5,683.50 crore in Jio Platforms. The ADIA subsidiary will buy 1.16 per cent stake in Mukesh Ambani-led digital company through this investment.

Also Read: SBI and ICICI Bank shock customers, Reduction in deposit rate

A release issued by Reliance Industries stated that with this investment, the company has raised an investment of Rs 97,885.65 crore in less than seven weeks. Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala and now ADIA have announced investments in Jio Platforms.

Jio Platforms is a wholly owned subsidiary of RIL. Jio has 38.8 crore subscribers across the country. Jio Platforms has recently made significant investments in its entire digital eco system.

These include broadband connectivity, smart devices, cloud and edge computing, big data analytics, artificial intelligence, IoT.

Mukesh Ambani, Chairman and Managing Director of RIL said in this context, “I am very happy that ADIA is partnering with our Jio Platforms, which aims to create opportunities for India as a digital leader and inclusive growth.” is. ADIA has a track record of more than four decades of long-term value investment across the globe.