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Abu Dhabi's Mubadala To Invest About $1.2 Bln In India's Reliance Jio

Billionaire Mukesh Ambani's Reliance Industries Limited said that the Abu Dhabi-based sovereign investor, Mubadala Investment Company, will invest 9,093.60 crore Indian rupees or about $1.2 billion in its Jio Platforms Ltd.

According to Reliance Industries, the investment values Jio Platforms at an equity value of 4.91 lakh crore rupees and an enterprise value of 5.16 lakh crore rupees.

Mubadala's investment represents a 1.85% equity stake in the Indian telecom operator Jio, which has more than 388 million subscribers.

Reliance Industries stated that Jio Platforms has raised 87,655.35 crore rupees from global investors including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR and Mubadala in less than six weeks.

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