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Abu Dhabi Investment Authority (ADIA) invests to large extent in Jio once again: Reliance India Limited (RIL)
News By/Courtesy: Dhruv Agrawal | 07 Jun 2020 23:33pm IST
Business & Stock My Voice News Abu Dhabi Investment Authority

HIGHLIGHTS

  • ADIA invests 5683.5 cr in Jio, 1.16% stake
  • Unprecedented eight investor in Jio Platforms
  • Reliance Digital a big boom today

While we all know JIO, the big successful brand of Reliance Digitals, of Mukesh Ambani, The Abu Dhabi Investment Authority (ADIA) is a sovereign wealth fund owned by the Emirate of Abu Dhabi (in the United Arab Emirates) founded to invest funds on behalf of the Government of the Emirate of Abu Dhabi. It manages the Emirate's excess oil reserves, estimated to be as much as $875 billion. Its portfolio grows at an annual rate of about 10% compounded. 

The History states that this is not the first time this one of the biggest investment firms all over the world has invested in Reliance India Limited, and this time it bought a handsome stock number of 5683.5 Cr in JIO, a booming digital industry, who has reached to the heights competing to the best existing digital platforms all over India unarguably. It is believed that it is the eight big investors in the JIO in less than seven weeks of the span, a big achievement, and trust gained by Reliance India Limited (shortly RIL). This fundraising by ADIA even marks the largest continuous fundraising action by a company anywhere in the world.

The first and the biggest was bought by Facebook, a glamorous amount of 9.99% stake of the  JIO company, amounting to 43574 Cr. This was a mark of big success by the company and must surely have made JIO a good attraction after then. 

Mukesh Ambani, Chairman and Managing Director of Reliance Industries, said, “I am delighted that ADIA, with its track record of more than four decades of successful 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. This investment is a strong endorsement of our strategy and India’s potential.”

THIS ARTICLE DOES NOT INTEND TO HURT THE SENTIMENTS OF ANY INDIVIDUAL, COMMUNITY, SECT, OR RELIGION ETCETERA. THIS ARTICLE IS BASED PURELY ON THE AUTHOR'S PERSONAL VIEWS AND OPINIONS IN THE EXERCISE OF THE FUNDAMENTAL RIGHT GUARANTEED UNDER ARTICLE 19(1)(A) AND OTHER RELATED LAWS BEING FORCE IN INDIA, FOR THE TIME BEING. 

Section Editor: Pushpit Singh | 08 Jun 2020 10:50am IST


Tags : Rilance, ADIA, Investments, Stocks, Business, JIO

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