ABu Dhabi-based autonomous investor Mubadala Investment Company is in talks to spend $1 billion (about Rs 75 billion 65 crore in Indian rupees) in Jio Platforms, Reliance Industries’ wireless arm. One source gave this detail. Last week, Reliance Industries announced a sale of 2.32 per cent stake in its digital entity to US private equity company KKR for Rs 11,367 crore. This was Jio Platforms’ fifth major investment in the last couple of weeks.
From the five big deals to date Reliance has earned a combined capital of Rs 78,580 crore from the minority interest in the digital enterprise. The source said there are ongoing talks with Mubadala Investment Firm over possible equity sale in Jio Platforms.
He hasn’t commented on the contract, though. Reliance Jio and Mubadala Investment Company have not replied to emails sent to that effect. In recent weeks, Xiao, apart from KKR, has received investments from Facebook, Silver Lake Partners, Vista Equity Partners and General Atlantic.
On the other hand, Reliance Industries” Right Entitlement ‘(RIL-RE) traded a record volume on Thursday in the demat business and the price jumped by over 23 percent. RIL-RE dealings took place the day before the business ended. This is the highest single day trading since RE commenced on 20 May. On Thursday, the RIL-RE volume went above the Reliance Industries stock. 1.92 crore shares of RIL were traded on the National Stock Exchange.