ADIA investment in Jio
ADIA joins the likes of Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, and Mubadala, all of which have invested significant money in Jio Platform over the last seven weeks. With ADIA’s investment, the total sum raised by Jio Platforms over the last several weeks reached Rs. 97,885.65 crore (nearly $13 billion). $752 million investment will get ADIA 1.16 percent stake in Jio Platforms.
Recent investments in Jio
|Investor in Jio||Investment||Stake in Jio|
|Rs. 43,574 crore||9.9 percent|
|Silver Lake Partners||Rs. 10,202.8 crore (2 rounds)||2.08 percent|
|Vista Equity Partners||Rs. 11,367 crore||2.32 percent|
|General Atlantic||Rs. 6,598 crore||1.32 percent|
|KKR||Rs. 11,367 crore||2.32 percent|
|Mubadala||Rs. 9,093.60 crore||1.85 percent|
|ADAI||Rs. 5,683.50||1.16 percent|
According to Reuters, ADIA has nearly $700 billion in assets and it is led by UAE’s president.
To recall, Reliance Jio went public on September 5, 2016, over nine months after its soft launch of RIL employees in December 2015. Thanks to its low prices and 4G technology, the telecom operator has become the top telecom operator in the country by subscribers in less than 5 years. It currently has over 375 million subscribers. All these investors are realizing the potential of its leadership in India’s telecom markets and the massive data it is sitting on, something that RIL chairman Mukesh Ambani very clearly knows.
Apart from offering voice and mobile broadband services, Jio also provides fibre-based broadband service, and devices under Jio and LYF brands. Additionally, Jio Platforms operates a number of apps and services, most of which are free to Jio subscribers.
The news of ADIA investment in Reliance Jio comes hot on the heels of the launch of Jio-Hotstar offer that bring free 1-year subscription of Disney+ Hotstar VIP to its prepaid subscribers, given they recharge with specific packs.