India’s leading telecom operator reliance jio has closed yet another deal with second UAE based sovereign wealth fund after Mubadala. Earlier this week Mubadala invested in jio Rs 9093 crore.
Abu Dhabi Investment Authority one of the world’s biggest sovereign wealth funds invested Rs 5,683.5 crore in the Jio Platforms.
Reliance, owned by India’s richest billionaire businessman Mukesh Ambani. has now sold just over 21% of Jio Platforms to investors.
So far including Facebook, KKR, Silverlake, and among others securing nearly Rs. 97,885.65 crores of investment ($13 billion) in less than seven weeks.
Reliance is now expecting to meet its zero net-debt target by March 2021.