Abu Dhabi state fund may invest USD 1 billion in Jio Platforms

New Delhi

Jio Platforms, which houses music and movie apps as well a Reliance’s telecoms venture Jio Infocomm, has secured a massive $10 billion from investors including Facebook Inc within a month. Reliance did not immediately respond to a request for comment

“Clearly Jio’s platform is attracting a wide range of world-class investors, given its enormous potential to serve one of the world’s largest marketplaces,” Mubadala said in an email.

Last week, Reliance Industries had announced sale of a 2.32 per cent stake in its digital unit to the US-based private equity giant KKR for Rs 11,367 crore, the fifth marquee deal over the past few weeks that will inject a combined Rs 78,562 crore in the oil-to-telecom conglomerate to help it pare debt.

The source said talks are on with Mubadala Investment Company for a possible stake sale in Jio Platforms, but did not divulge details.