Chinese hegemony: Amul Twitter Account Restored After Brief Outage Following Ad Targeting China

The creative carries a tagline ‘Amul Made In India’ referring to Prime Minister Narendra Modi’s call for self-reliant India.

Earlier today, Jio Platforms Ltd, the wholly owned subsidiary of Reliance Industries Ltd, announced a landmark eighth investment in a span of just over six weeks. The latest investment marks the second investment from a sovereign wealth fund in Jio Platforms, with Abu Dhabi Investment Authority (ADIA) picking up a 1.16 percent stake in the company for an investment of Rs 5,683.50 crore, or $752.1 million. With the investment, Jio Platforms has raised a total of Rs 97,885.65 crore in a brief span of time, underlining its position in India as a pioneer of cutting edge technology, and a headlining act in India’s digital transformation saga.

What the two companies said

After the landmark deal that marked the sale of 21.06 percent of Jio Platforms to foreign investors, Mukesh Ambani, chairman and managing director of Reliance Industries Ltd, said about the company’s partnership with ADIA, “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.”

Expressing delight on its association with Reliance Industries in India, Hamad Shahwan Aldhaheri, executive director of ADIA’s private equities department, 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. The rapid growth of the business, which has established itself as a market leader in just four years, has been built on a strong track record of strategic execution. 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.”

Jio’s investment run

After revolutionising India’s mobile data market, Reliance Jio has successfully diversified into a technology platform that is headlining India’s digital transformation. One of the largest private sector companies in India, Jio has seen a stunning run of investments in recent times. On April 22, Facebook, the world’s largest social media corporation, picked up a 9.99 percent stake in Reliance Jio for Rs 43,573.62 crore. Following Facebook was Silver Lake on May 3, which now has a 2.08 percent stake in Jio Platforms in exchange of a two-round investment of Rs 10,202.55 crore. The third entity to invest in Jio Platforms was Vista Equity Partners, which invested Rs 11,367 crore for a 2.32 percent stake in the company. General Atlantic then followed up with an investment of Rs 6,598.38 crore for a 1.34 percent stake. Investment firm KKR also followed up with a Rs 11,367 crore investment for a 2.32 percent stake in the company. Abu Dhabi-based Mubadala has invested Rs 9,093.60 crore for a 1.85 percent stake in Jio Platforms as well.

Who is ADIA?

The Abu Dhabi Investment Authority is a sovereign wealth fund owned by the Emirate of Abu Dhabi, and is known for making landmark investments on behalf of the government of Abu Dhabi. It is chaired by His Highness Khalifa bin Zayed bin Sultan Al Nahyan, the President of the United Arab Emirates and the ruler of Abu Dhabi. Founded over 44 years ago, ADIA is one of the world’s foremost investors, and is a member of the International Forum of Sovereign Wealth Funds.

ADIA’s investment in Jio Platforms reflects the diverse portfolio of investors attracted towards Reliance Jio’s offering, and further establishes the unbound promise that the company represents towards taking forward the steady digitisation of India. With ADIA’s backing, Reliance Jio Platforms has raised Rs 97,885.65 crore in foreign investments so far, selling 21.06 percent stake of the company to an enviable consortium of investors.


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