Jio Platforms: $1.2 Billion From Mubadala Investment And $602 Million From Consortium Led By Silver Lake

By Noah Long ● June 5, 2020
  • Jio Platforms has received a ₹9,000 crore investment ($1.2 billion) from Abu Dhabi-based Mubadala Investment and 45.5 billion rupees ($602 million) from a consortium led by Silver Lake. These are the details.

Jio Platforms has received a ₹9,000 crore investment ($1.2 billion) from Abu Dhabi-based Mubadala Investment and 45.5 billion rupees ($602 million) from a consortium led by Silver Lake.

Mubadala Investment

The $1.2 billion investment from Mubadala Investment was for a 1.85% stake in the telecommunications company.

Jio Platforms — which is a holding company for Indian telecommunications giant Reliance — has over 388 million subscribers. Mubadala said it had invested in Jio Platforms in order to drive the global growth of information technology.

“We are committed to invest in, and actively working with, high growth companies which are pioneering technologies to address critical challenges and unlock new opportunities,” said Mubadala group CEO and managing director Khaldoon Al Mubarak.

Investment From Silver Lake’s Consortium

The investment consortium led by Silver Lake Partners received a 2.1% stake in Jio Platforms for $602 million, according to a Mumbai exchange filing obtained via Bloomberg. Last month, Silver Lake put in 56.6 billion rupees in Jio Platforms.

Jio Platforms combines Reliance’s digital assets and its wireless carrier Reliance Jio Infocomm Ltd. in the form of a holding company.

Jio Platforms has raised around $12 billion in under 6 weeks. Other investors in Jio Platforms also include Facebook, KKR, and General Atlantic. And now Jio is valued at about $65 billion.

Some of the other investors that are reportedly interested in a Jio Platform stake include the Abu Dhabi Investment Authority and Saudi Arabia’s Public Investment Fund.