Business news of the day || Abu Dhabi Investment Firm Mubadala to buy 1.75% stake of Jio || business news india live

Business news of the day-: Abu Dhabi's Mubadala Investment Company will invest 9094 crore in Reliance Jio platform. 

So far, 87 thousand 655 crores have been invested for the 18.97 stake in the Jio platform, stated in Business news of the day. 


Reliance Industries Limited said on Friday that Mubadala, an investment company of Abu Dhabi, would invest Rs 9093.6 crore for a 1.85% stake in its digital arm Jio platform. The Jio platform has received this sixth investment in less than 6 weeks. According to the business news of the day, It has so far received an investment of Rs.87655.35 crore for an 18.97 stake.


Top financial news, 4.91 lack crores invested at an equity value.

The statement issued by RIL said that Mubadala has made this investment of Rs 4.91 lack crore equity value of the Jio platform and enterprise value Rs 5.16 lack crore. RIL said that through this investment, Mubadala would get a 1.85% stake in the Jio platform.

The first non-US company to invest in the Jio platform.

According to the business news headline, RIL's Jio platform remains the first choice of American companies in terms of investment. Mubadala has now become the first non-US company to invest in the Jio platform. Companies such as Facebook, Silver Lake, Vista Equity Partners, General Atlantic, and KKR are all US-based investment companies.

We want to benefit from the experience of Mubadala, Mukesh Ambani.

Mukesh Ambani, Chairman and Managing Director of Reliance Industries, said that I am happy that Mubadala, one of the world's best and transformational investors, has decided to partner with us. Mubadala will be a partner in our journey to make India a digital nation.

Chairman and MD, Mr. Mukesh Ambani further said that I even have a long-standing relationship with Abu Dhabi and that I have seen that Mubadala has done an incredible job in connecting the UAE's knowledge-based economy to the planet and coloring diversity. We want to benefit from Mubadala's experience.

Jio changed communication and connectivity in India.

As mentioned in the business news information service, Khaldun Al Mubarak, managing director and group CEO of Mubadala Investment Company said that we have seen how Jio has changed communication and connectivity in India. We are committed to supporting India's digital development journey as an investment and partner.

Reliance Industries can become a debt-free company by December this year.

Mukesh Ambani had last year set a target of making RIL a debt-free company by March 2021 on a net basis. The debt-free target is expected to be met only in December this year by the Facebook deal, rights issue worth Rs 53125 crore, private equity investment, and stake sale to many more companies including Saudi Aramco. Reliance Industries had a net debt of Rs.161035 crore in March.

RIL's digital subsidiary is the Jio platform.

The Jio platform is the digital subsidiary of Reliance Industries. The company also invests in the RIL Group's digital business assets such as Reliance Jio Infocomm Limits, Jio Apps, and several other entities including Rewire, Find, Hathway and Den.