Reliance raises Rs 5,683 crores from Abu Dhabi Investment Authority

Reliance Industries on Sunday said it sold 1.16 per cent stake in its digital unit to Abu Dhabi Investment Authority (ADIA) for Rs 5,683.50 crore, taking the cumulative fund raising to Rs 97,885.65 crore that will help pare debt at the oil-to-telecom conglomerate.

“This investment values Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore.

ADIA’s investment will translate into a 1.16 per cent equity stake in Jio Platforms on a fully diluted basis,” the company said in a statement.

With this investment, Jio Platforms has raised Rs 97,885.65 crore from leading global investors including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala and ADIA in less than seven weeks.