While Abu Dhabi’s Mubadala Investment is almost about to close the deal with Reliance Jio, there are two more large Middle Eastern sovereign wealth funds that are in advanced talks with Jio.
These two funds are expected to pick minority stakes in Reliance Jio which could be worth around Rs 7,500 crore. The other two funds that are likely to invest in Jio are Abu Dhabi Investment Authority and Saudi Arabia’s The Public Investment Fund.
With these additional investments, the company is expected to add around Rs 75,000 crore to its kitty.
There are reports that suggest that Microsoft is also mulling over investing in Reliance Jio.
With digital becoming more and more important at this time of COVID-19, many institutional investors have found Jio very attractive. This mainly because Jio has a total user base of 369.93 million which is more than Vodafone Idea Ltd’s user base. Today, Jio has the largest user base in the country.
Lately, the company has attracted investments from Facebook, which has the largest stake after Reliance Industries. The social media company picked up 9.99 per cent shares worth Rs 43,000 crore. KKR, Vista Equity Partners, Silver Lake and General Atlantic are the other investors that invested in Jio in the last few months.