UAE - Mubasher: A wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA) has agreed on purchasing an approximately 1.16% stake in Jio Platforms, an Indian digital services company, at a total value of $752 million.

In less than six weeks, Jio Platforms, a subsidiary of Reliance Industries, has raised $11.6 billion (AED 43 billion) from prominent international technology investors, including Facebook, Silver Lake, General Atlantic, and Mubadala Investment, according to a recent press release.

ADIA is a long-term investor in India, as it holds directly or through its subsidiaries investments in numerous assets, such as equities, fixed income, real estate, and private equity. 

Commenting on the acquisition, executive director of the Private Equities Department at ADIA, Hamad Shahwan Aldhaheri, said: "Jio Platforms is at the forefront of India’s digital revolution, poised to benefit from major socio-economic developments and the transformative effects of technology on the way people live and work."

Aldhaheri further remarked: "Our investment in Jio is a further demonstration of ADIA’s ability to draw on deep regional and sector expertise to invest globally in market leading companies and alongside proven partners."