Jio Platforms to get $1.2 billion from Abu Dhabi's Mubadala

Abu Dhabi-based sovereign investor Mubadala Investment Company will invest Rs 9093.60 cr for 1.85% stake in Jio Platforms, ET Reports

“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,” Mukesh Ambani, chairman and Managing Director of Reliance Industries, said in a statement.

This will further help to achieve its zero-net debt ahead of the March 2021 target. At the end of last March, Reliance had outstanding debt of Rs 3.36 lakh crore and cash of Rs 1.75 lakh crore, bringing its net debt to Rs 1.61 lakh crore.

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