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Reliance Jio stake sale: Mukesh Ambani's telco raises over 92,000 crore in 6 weeks

BusinessToday.In     June 5, 2020

Mukesh Ambani-led Reliance Jio has received a spate of investments worth Rs 92,202.15 crore in the last six weeks.

While the world is grappling with the COVID-19 outbreak with businesses and economies taking a severe hit, India's largest mobile operator is on a money-raising spree from leading global companies of the likes of Facebook, General Atlantic, KKR, Vista Equity Partners, Silver Lake and, the latest, Abu Dhabi-based sovereign investor Mubadala.

Also Read: How Coronavirus crisis has helped Reliance Jio emerge winner in digital economy

Mubadala has invested Rs 9,093 crore in Jio platforms, translating into 1.85% equity stake on a fully diluted basis. This takes Jio's valuation to an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore, RIL said on Friday.

Reliance Industries Ltd (RIL) is also reportedly holding talks with Adu Dhabi Investment Authority, and Saudi Arabia's Public Investment Fund.

RIL's share prices scaled new heights on Friday morning with conglomerate's share price touching a 52-week high of Rs 1,617.7 per share as investors reacted to the news of Reliance selling its minority equity stake to Mubadala.

Also Read: Abu Dhabi's Mubadala to invest Rs 9,093.60 cr in Mukesh Ambani's Jio Platforms

Below is the timeline of all recent investments in Reliance Jio's platforms:-

April 22 - Facebook investment: The social media giant announced an investment of Rs 43,574 crore in Reliance Jio accounting for a 9.99% stake in the company's platforms.

May 3 - Silver Lake: The American private equity (PE) giant picked a 2.08% stake in Reliance Jio with an investment of Rs 10,202.6 crore in its platforms.

May 8 - Vista Equity: The US-based private equity firm picked a 2.32 percent stake in RIL's Jio platforms for Rs 11,367 crore.

May 17 - General Atlantic: The New York-headquartered PE firm announced an investment of Rs 6,598 crore in Reliance Jio for a 1.34% stake.

May 22 - KKR: The US-based PE company bought a 2.32% stake in Jio platforms for Rs 11,367 crore.

June 5 - Mubadala: The Abu Dhabi-based sovereign investor announced an equity infusion of Rs 9,093.6 in Reliance Jio on Friday in exchange for 1.85% stake in the telecom arm of RIL.

Also Read: Reliance Industries share price hits 52-week high on stake sale in Jio Platforms to Abu Dhabi fund

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