Abu Dhabi Investment Authority takes Dh2.76bn stake in Reliance Industries’ Jio Platforms – The National

Abu Dhabi Investment Authority takes Dh2.76bn stake in Reliance Industries’ Jio Platforms – The National

The Abu Dhabi Investment Authority has become the latest global investor to take a stake in Reliance Industries' Jio Platforms, following on from Mubadala's investment announced last week.. Adia has invested 56.83 billion Indian rupees ($753.4m / Dh2.76bn) for a 1.16 per cent equity stake in Jio Platforms, bringing the total investment secured in the last seven weeks to $12.95bn.. The investment values the business at $65bn.. Reliance Industries, controlled by Asia's richest man Mukesh Ambani, is India's largest private sector company, with a consolidated turnover of $87.1bn and a net profit of $5.3bn for the year ended March 31, 2020.. Jio Platforms has attracted investment in recent weeks from the likes of Facebook, private equity giant KKR, Mubadala, Silver Lake Capital, Vista Equity Partners and General Atlantic, selling just under 20 per cent of the company.. "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," said Mr Ambani.. Faceook invested $5.7bn in Jio Platforms in April for a 10 per cent stake, making it the biggest minority