Mumbai: Reliance Industries Limited (“Reliance Industries”) and Jio Platforms Limited (“Jio Platforms”), India’s leading digital services platform, announced today that Mubadala Investment Company (Mubadala), the Abu Dhabi-based sovereign investor, will invest ₹ 9,093.60 crore in Jio Platforms at an equity value of ₹ 4.91 lakh crore and an enterprise value of ₹ 5.16 lakh crore. Mubadala’s investment will translate into a 1.85% equity stake in Jio Platforms on a fully diluted basis.This is an unprecedented sixth investment in Jio Platforms in just six weeks. The investment is ₹ 9093.60 crore for a 1.85% stake in Jio Platforms.

Mubadala’s investment is at a similar valuation to the other recent PE investments in Jio – equity valuation of ₹ 4.91 Lakh crore and enterprise valuation of ₹ 5.16 Lakh crore.

With this investment, Jio Platforms has raised ₹ 87,655.35 crore from leading technology investors including Facebook, Silver Lake Partners, Vista Equity Partners, General Atlantic, KKR and Mubadala.

S No Investor Investment Amount (Rs Crore) % Stake

1 Facebook, Inc. 43,573.62 9.99%

2 Silver Lake Partners 5,655.75 1.15%

3 Vista Equity Partners 11,367.00 2.32%

4 General Atlantic 6,598.38 1.34%

5 KKR 11,367.00 2.32%

6 Mubadala 9,093.60 1.85%

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Total 87,655.35 18.97%

Mukesh Ambani, Chairman and Managing Director of Reliance Industries, said, “I am delighted that Mubadala, one of the most astute and transformational global growth investors has decided to partner us in our journey to propel India’s digital growth towards becoming a leading DIGITAL NATION in the world. Through my longstanding ties with Abu Dhabi, I have personally seen the impact of Mubadala’s work in diversifying and globally connecting the UAE’s knowledge-based economy. We look forward to benefitting from Mubadala’s experience and insights from supporting growth journeys across the world.”

Khaldoon Al Mubarak, Managing Director and Group CEO, Mubadala Investment Company, said: “We are committed to investing in, and actively working with, high growth companies which are pioneering technologies to address critical challenges and unlock new opportunities. We have seen how Jio has already transformed communications and connectivity in India, and as an investor and partner, we are committed to supporting India’s digital growth journey. With Jio’s network of investors and partners, we believe that the platform company will further the development of the digital economy.”

The transaction is subject to regulatory and other customary approvals.

Morgan Stanley acted as financial advisor to Reliance Industries and AZB & Partners, and Davis Polk & Wardwell acted as legal counsel.

This investment is another strong endorsement of Jio’s tech capabilities, disruptive business model and secular long-term growth potential

This reaffirms Jio’s continuing attraction among global investors for:

i. Being the best representative of India’s digital potential

ii. Deep understanding of the Indian markets,

iii. The rapid digitisation opportunity post-covid and

iv. Capabilities to bring cutting-edge technologies and tools such as AI, Blockchain, AR/VR, Big data into play for all Indians

Mubadala Investment Company is a sovereign investor managing a global portfolio for its shareholder, the Government of Abu Dhabi. To further its commitment to innovation and technology, Mubadala established its Ventures arm in 2017 to partner early with visionary founders and support innovative businesses. Mubadala’s Ventures business currently manages several venture funds in the US, Europe and Middle East.

Mubadala’s manages a US $229 billion portfolio in five continents with interests in multiple sectors including aerospace, ICT, semiconductors, metals and mining, renewable energy, oil and gas, petrochemicals, utilities, healthcare, real estate, pharmaceuticals and medical technology, agribusiness and a global portfolio of financial holdings across all asset classes.

DeshGujarat