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Reliance Jio Raises Further $2.5 Billion From Foreign Investors

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variety.com
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Patrick Frater Asia Bureau ChiefReliance Industries has raised a further $2.5 billion for its Jio Platforms business from a trio of foreign investment groups.On Sunday, the company revealed that the Abu Dhabi Investment Authority had paid $750 million for a 1.16% stake in the broadband internet and media operation.That followed a $1.2 billion commitment from Mubadala, another Abu Dhabi government fund, and an additional $600 million from previously committed U.S.

investor Silver Lake. The top up lifts Silver Lake’s holding to 2.1%. Earlier, Facebook bought a 9.9% stake.The latest deals were struck at an enterprise value of $65 billion, Reliance Industries said.

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