Facebook to Mubadala: Investors queue up for stake in Jio Platforms

Including investment by the Abu Dhabi fund, Reliance has now sold a combined 19% interest in Jio Platforms in six deals announced over as many weeks.

Reliance Industries on Friday added to its list of international backers, with Abu Dhabi's Mubadala Investment Co buying a stake in its digital arm, Jio Platforms, for Rs 9,093.6 crore.

Reliance has now sold a combined 19 per cent interest in Jio Platforms, which houses movie, music apps and telecoms venture Jio Infocomm, in six fundraising deals worth a total of Rs 87,656 crore. Here is more about these investments:

1. Facebook invested Rs 43,574 crore in Jio in April for a roughly 10 per cent stake, seeking to build a commerce business for its WhatsApp messaging service. Bloomberg News reported the social media network would work with Jio to take advantage of the company’s JioMart e-commerce platform and its relationship with Indian merchants.

2. Private equity firm Silver Lake will pick up 1.15 per cent stake in Jio Platforms for Rs 5,655.75 crore, Reliance announced on May 4. The deal valued Jio Platforms at Rs 4.90 trillion on equity basis and Rs 5.15 trillion on enterprise value basis.

3. Private equity firm Vista Equity Partners will invest Rs 11,367 crore in Jio Platforms for a 2.3 per cent stake, Reliance announced on May 8. The investment values Jio Platforms at an equity value of Rs 4.91 trillion and an enterprise value of Rs 5.16 trillion, Reliance said in a statement.

4. Reliance announced on May 17 US fund General Atlantic will invest Rs 6,598.38 crore in Jio Platforms for a 1.34 per cent stake. The investment valued Jio Platforms at an equity value of Rs 4.91 trillion and an enterprise value of Rs 5.16 trillion, said Reliance in a statement.