Jio offers 1.85% stake to Mubadala for $1.2 bn

Reliance Industries (RIL) announced that Mubadala Investment Company, the Abu Dhabi-based sovereign investor, will invest Rs 9,093.60 crore or $1.2 billion in Jio Platforms for picking up 1.85 percent stake.
Jio for VoLTE serviceThe investment indicates that Jio Platforms will have an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore.

With this investment, Jio Platforms has raised Rs 87,655.35 crore from technology and growth investors including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR and Mubadala in less than six weeks.