RIL shares hit record high post another investment in Jio

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SME Times News Bureau | 05 Jun, 2020
Shares of Reliance Industries (RIL) Friday hit a record high of Rs 1,617.70 per share after the company announced to get another major investment in Jio Platforms.

RIL's market capitalisation is currently around Rs 10.09 lakh crore.

Its share price, however, has declined from the record level and around 10.52 a.m., it was trading at Rs 1,591.35 on the BSE, higher by Rs 11.40 or 0.72 per cent from its previous close.

RIL on Friday announced that Mubadala Investment Company (Mubadala), the Abu Dhabi-based sovereign investor, will invest Rs 9,093.60 crore in Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore.

With this investment, Jio Platforms has raised Rs 87,655.35 crore from leading global technology and growth investors including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR and Mubadala in less than six weeks.