INSUBCONTINENT EXCLUSIVE:
Continuing its almost improbable run, Reliance Industries' digital subsidiary Jio Platforms on Sunday got $750 million (Rs 5,683.50 crore)
from Abu Dhabi Investment Authority (ADIA) -- its 7th big-ticket investor in as many weeks.Analysts are astonished at the pace of investment
flowing into Jio Platforms especially at the height of global financial turmoil.Jio Platforms has now snared nearly $13 billion from seven
deal that Jio Platforms has landed for itself this week.Jio Platforms had earlier got $1.2 billion from another Abu Dhabi-based sovereign
Further, late last Friday, equity firm Silver Lake chipped in an additional $600 million to increase its stake in Jio to 2.1%.(Image credit:
Jio Platforms)ADIA's India gambitADIA's investment values Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of
globally-diversified investment institution that invests funds on behalf of the Government of Abu Dhabi through a strategy focused on
ADIA manages a global investment portfolio that is diversified across more than two dozen asset classes and sub-categories.Hamad Shahwan
revolution, poised to benefit from major socioeconomic developments and the transformative effects of technology on the way people live and
work."In a press release, he added: "The rapid growth of the business, which has established itself as a market leader in just four years,
has been built on a strong track record of strategic execution
now Adia in seven weeks.Jio's scorcing paceJio Platforms, with more than 388 million subscribers in its three-and-a-half-year existence, is
blazing a hot trail that its competitors are finding it impossible to match.Jio has made significant investments across its digital
ecosystem, powered by leading technologies spanning broadband connectivity, smart devices, cloud and edge computing, big data analytics,
long-term value investing across the world, is partnering with Jio Platforms in its mission to take India to digital leadership and generate
inclusive growth opportunities
RIL's Reliance Industries) plan to be debt-free by March
Most likely, the target is likely to be achieved by December, with Reliance already securing Rs53,124 crore from a rights issue that closed
on 4 June.(You can read everything about Jio Platforms and its various investors in our comprehensive coverage
here).CawgtzVZV9Fh4Nq3JikZxf.jpg?#
