Mubadala to Invest ₹ 9,093.60 Crore in Jio Platforms

JIO PLATFORMS HAS RAISED INVESTMENTS OF ₹ 87,655.35 CRORE
BY LEADING GLOBAL INVESTORS IN SIX WEEKS
SHRI MUKESH AMBANI: “THIS INVESTMENT WILL FURTHER PROPEL JIO’S VISION OF
TRANSFORMING INDIA INTO THE WORLD’S LEADING DIGITAL NATION”

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.
With this investment, Jio Platforms has raised ₹ 87,655.35 crore from leading global technology and
growth investors including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR and
Mubadala in less than six weeks.
Jio Platforms, a wholly-owned subsidiary of Reliance Industries, is a next-generation technology
platform focused on providing high-quality and affordable digital services across India, with more
than 388 million subscribers. Jio Platforms has made significant investments across its digital
ecosystem, powered by leading technologies spanning broadband connectivity, smart devices,
cloud and edge computing, big data analytics, artificial intelligence, Internet of Things, augmented
and mixed reality and blockchain. Jio’s vision is to enable a Digital India for 1.3 billion people and
businesses across the country, including small merchants, micro-businesses and farmers so that all
of them can enjoy the fruits of inclusive growth.
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.”

Mubadala invests and partners to advance Abu Dhabi’s diversified, globally integrated economy
across sectors that are driving global growth and addressing critical challenges. A significant aspect
of this mandate is transformative information and communications technology investments which
include cognitive computing, ICT infrastructure, telecoms, and satellite operations.
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.
Today, Mubadala’s portfolio spans advanced manufacturing, semiconductors, metals & mining,
pharmaceutical and medical technology, renewable energy and utilities, and the management of
diverse financial holdings.
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.

–jothi.s