iWorld

ADIA to invest Rs 5683.5 cr in Jio Platforms

It will strengthen Jio's vision of a digial society

https://www.indiantelevision.com/sites/default/files/styles/smartcrop_800x800/public/images/tv-images/2020/06/08/jio.jpg?itok=e-VwfGDp

MUMBAI: Reliance Industries Ltd and Jio Platforms Ltd announced an investment of Rs 5,683.50 crore by a wholly owned subsidiary of the Abu Dhabi Investment Authority (“ADIA”). This investment values Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore. ADIA’s investment will translate into a 1.16 per cent equity stake in Jio Platforms on a fully diluted basis. With this investment, Jio Platforms has raised Rs 97,885.65 crore from leading global investors including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala and ADIA in less than seven weeks.

Jio Platforms, a wholly-owned subsidiary of Reliance Industries, is a next-generation technology platform focused on providing high-quality and affordable digital services across India, with more than 388 million subscribers. Jio Platforms has made significant investments across its digital ecosystem, powered by leading technologies spanning broadband connectivity, smart devices, cloud and edge computing, big data analytics, artificial intelligence, Internet of Things, augmented and mixed reality and blockchain. Jio’s vision is to enable a Digital India for 1.3 billion people and businesses across the country, including small merchants, micro-businesses and farmers so that all of them can enjoy the fruits of inclusive growth.

Established in 1976, ADIA is a globally-diversified investment institution that prudently invests funds on behalf of the Government of Abu Dhabi through a strategy focused on long-term value creation. ADIA manages a global investment portfolio that is diversified across more than two dozen asset classes and sub-categories.

Reliance Industries chairman and MD Mukesh Ambani said, “I am delighted that ADIA, with its track record of more than four decades of successful long-term value investing across the world, is partnering with Jio Platforms in its mission to take India to digital leadership and generate inclusive growth opportunities. This investment is a strong endorsement of our strategy and India’s potential.”

ADIA executive director of the private equities department Hamad Shahwan Aldhaheri  said: “Jio Platforms is at the forefront of India’s digital revolution, poised to benefit from major socio-economic developments and the transformative effects of technology on the way people live and work. The rapid growth of the business, which has established itself as a market leader in just four years, has been built on a strong track record of strategic execution. Our investment in Jio is a further demonstration of ADIA’s ability to draw on deep regional and sector expertise to invest globally in market leading companies and alongside proven partners.”

The transaction is subject to regulatory and other customary approvals.

Morgan Stanley acted as financial advisor to Reliance Industries and AZB & Partners, and Davis Polk & Wardwell acted as legal counsel.

Latest Reads

https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/01/25/whstapp.jpg?itok=GpgD_SMy
WhatsApp privacy policy: Government highlights differential treatment between European & Indian users

KOLKATA: The central government is considering issues of data privacy in light of the new WhatsApp privacy policy, it has informed the Delhi high court. It has already sent a communication to WhatsApp to respond to queries in this regard. Additional solicitor general Chetan Sharma said that the...

iWorld Over The Top Services
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/01/25/menxp.jpg?itok=dLxiq3Wl
MensXP unveils Republic Day Festival

KOLKATA: With the Republic Day around the corner, MensXP has unveiled the Republic Day Festival from 22 January all the way until 26 January 2021. This sale will offer Indian men the opportunity to explore some of the finest Indian brands across winter wear, grooming, innerwear, gadgets, work from...

iWorld Over The Top Services
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/01/23/img_23012021_133828_800_x_800_pixel.jpg?itok=EUfOBU29
Disney+Hotstar’s Varun Narang joins Fox Corporation

KOLKATA: Disney+Hotstar chief product officer Varun Narang has moved on to join Fox Corporation in the same role. He will report to chief technology officer and president of digital Paul Cheesbrough, will oversee the company’s portfolio of Fox-branded streaming products, platforms and engineering...

iWorld Over The Top Services
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/01/23/vidnet-2021.jpg?itok=Mdh7JzAH
Vidnet 2021: Aggregation of video streaming platforms to pick up soon

The three to four-year-young digital video entertainment industry has shown a massive boom in popularity, gaining prominence quicker than any other medium ever did. The right circumstances backed by the right technological and socio-economical interventions pushed the envelope for this impressive...

iWorld Over The Top Services
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/01/22/disney.jpg?itok=jbi7TfG0
Chennai tops entertainment consumption with 73% viewership: Disney+Hotstar

NEW DELHI: The unprecedented rise in the consumption of OTT content, specifically during the lockdown period, has massively contributed to the growth of the sector. Interestingly, most of the platforms have realised and acknowledged a huge spike in content consumption and time spent from the...

iWorld Over The Top Services
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/01/22/ca.jpg?itok=LMwl4de2
Data theft case: CBI files FIR against Cambridge Analytica

KOLKATA: The central bureau of investigation (CBI) has filed an FIR against UK-based political consulting firm Cambridge Analytica for alleged illegal harvesting of personal data in India. It has also booked Global Science Research (GSRL) for its involvement in the same case.

iWorld Over The Top Services
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/01/22/club.jpg?itok=TUXeKcNr
Kerala’s No 1 FM Radio, Club FM, disrupts the radio space and also unveils a new brand identity

Club FM, Kerala’s No. 1 FM station, with the largest coverage, on 18th January, embarked on a new journey; a new brand identity and a new way in which the RJs will be interacting with and engaging the listeners; all with the limitless possibilities on the focus of “U”; the audience who have made...

iWorld Over The Top Services
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/01/22/all.jpg?itok=eHb_O4Md
Vidnet 2021: Fairer margins needed for SVoD to boost ARPUs

The Indian OTT space is booming, more and more platforms are cropping up every day, leaving viewers spoilt for choice. It has also become a crowded and rather skewed market, where out of approximately 70 players, two or three bigwigs take the lion’s share of subscribers and revenue due to their...

iWorld Over The Top Services
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/01/21/mirzapur.jpg?itok=SXahpzy2
Petition in SC against Amazon Prime Video’s Mirzapur

Mumbai: A resident of Mirzapur has moved a PIL in the Supreme Court against the Amazon Prime Video web series Mirzapur, taking exception to the manner in which the eponymous city has been portrayed in the show as a den of terror, crime and other illegal activities. "The said web series has shown...

iWorld Over The Top Services

Sign up for our Newsletter

subscribe for latest stories

* indicates required