# Reliance’s Jio Platforms raise ₹5,683.50 crore from Abu Dhabi Investment Authority | Tech News (HT Tech)
> Reliance Jio-ADIA deal: This is the eighth investment in Jio Platforms in less than seven weeks.
# Reliance’s Jio Platforms raise ₹5,683.50 crore from Abu Dhabi Investment Authority
## Reliance Jio-ADIA deal: This is the eighth investment in Jio Platforms in less than seven weeks.
Aug 20 2022, 21:22 IST
### By HT TECH
Reliance Industries Limited (RIL) on Sunday announced raising ₹5,683.50 crore from a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA) for its Jio Platforms. This investment values Jio Platforms at an equity value of ₹4.91 lakh crore and an enterprise value of ₹5.16 lakh crore. ADIA’s investment will translate into a 1.16% equity stake in Jio Platforms on a fully diluted basis.
Including the latest investment, Reliance Jio Platforms have so far raised ₹97,885.65 crore from global investors such as Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, and Mubadala.
Morgan Stanley acted as financial advisor to Reliance Industries and AZB & Partners, and Davis Polk & Wardwell acted as legal counsel.
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ADIA, established in 1976, invests funds on behalf of the Government of Abu Dhabi. The investment authority handles a global portfolio which covers over 24 asset classes and sub-categories.
ALSO READ: Silver Lake to invest an additional ₹4,546.80 crore in Reliance Jio
Reliance has sold over 20% of stake in Jio Platforms so far (Jio)
Reliance has sold over 20% of stake in Jio Platforms so far (Jio)
Mukesh Ambani, Chairman and Managing Director of Reliance Industries, 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.”
A timeline of foreign investments in Reliance's Jio investments so far (Jio)
A timeline of foreign investments in Reliance's Jio investments so far (Jio)
Hamad Shahwan Aldhaheri, Executive Director of the Private Equities Department at ADIA, said: “Jio Platforms is at the forefront of India’s digital revolution, poised to benefit from major socioeconomic 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.”
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07 Jun, 19:31 IST
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