The international company will invest in Jio services from Reliance. The Mubadala Investment Company of Abu Dhabi is going to invest Rs 9,093.60 crore in Jio Platforms and buy 1.85 percent of the shares. This is the sixth major foreign investment in the last six weeks at Jio platforms.
Here Jio ‘s president and managing director shared satisfaction over the project. In a statement Mukesh Ambani said India is definitely on its way to becoming the world’s largest digital country with Mubadala and Jio working together.
Mukesh Ambani further said that through his longstanding relationship with Abu Dhabi he has personally seen the impact of Mubadala ‘s work. He says he is hoping that Mubadala ‘s experience will benefit the company. Earlier, KKR, Facebook, Silver Lake, Vista, General Atlantic had recently invested in Jio platforms. These five companies jointly invested a total of Rs 78,562 crore. Now after Mubadala’s investment of more than nine thousand crores, the total investment of investment has been Rs 87,655 crore.
Khaladun Al Mubarak, managing director and group CEO of Mubadala Investment Company, said his company is committed to working with and investing in high-growth companies. He said that we have seen how Jio has already changed communication and connectivity in India. Khaladun said that as an investor and partner, we are committed to supporting India’s digital development journey. With Jio’s network of investors and partners, we are confident that the company will drive the growth of the digital economy. The sale of stake will make Reliance the first company to have no debt by March 2021. At the same time till March, the total debt of Reliance Company was Rs 1.61 lakh crore.