InvestorQ : How much has Reliance now managed to sell in Jio Platforms after the latest deal with Abu Dhabi Investment Authority (ADIA)?
Mary Joseph made post

How much has Reliance now managed to sell in Jio Platforms after the latest deal with Abu Dhabi Investment Authority (ADIA)?

Answer
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sara Kunju answered.
3 months ago


Over the week end, Abu Dhabi Investment Authority (ADIA) became the latest investor to pick up a 1.16% stake in Jio Platforms for Rs.5684 crore. This also implies an overall valuation of Rs.4.92 trillion for Jio Platforms. Now, ADIA is the seventh marquee investor in Jio Platforms after Facebook, Silver Lakes, Vista Equity, General Atlantic Partners, KKR and Mubadala. Silver Lakes has already invested in two tranches in Jio Platforms. After the ADIA stake sale, Jio Platforms has now raised Rs.97,886 crore by monetizing about 21% of its stake in Jio Platforms. This, combined with the rights issue proceeds, should go a long way in helping the RIL group to become zero debt by March 2021. Since the rights issue has only collected 25% on application, RIL will still require funds from BP and Brookfield. Alternatively, it may look to sell a higher stake in Jio Platforms.