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Become A Startup Insider With Inc42 Plus
Join our exclusive community of business leaders &makers for in-depth tech stories and intelligence on India’s tech economy you won’t find elsewhere.
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Become a Startup Insider in 2024 with Inc42 Plus. Join our exclusive community of 10,000+ founders, investors & operators and stay ahead in India’s startup & business economy.
Mukesh Ambani-led Reliance Industries announced today that Mubadala Investment Company (Mubadala), the Abu Dhabi-based sovereign investor, will invest INR 9,093.60 Cr in Jio Platforms for a 1.85% equity stake.
Over the last few weeks, several reports have suggested that Mubadala and Saudi Arabia’s $320 Bn sovereign wealth fund Public Investment Fund (PIF) may also participate in Jio’s fundraising spree. With this investment, Jio Platforms has raised INR 87,655.35 Cr from global investors such as Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR and Mubadala in less than six weeks.
To read more, click here.
