RIL shares hit fresh high with another investment in Jio
Shares of Reliance Industries (RIL) touched a fresh all-time high of Rs 1,624, a day after the company announced another major investment into Jio Platforms.
On Sunday evening RIL announced an investment of Rs 5,683.50 crore by a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA).
Earlier in the day, RIL shares hit a new high of Rs 1,624 per share. However, they have trimmed major gains made initially.
At 10.52 p.m., its share price was at Rs 1,586.15, higher by 5.55 points or 0.35 per cent from its previous close.
With the latest investment, Jio Platforms has raised Rs 97,885.65 crore from leading global investors, including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala and ADIA in less than seven weeks.
This investment values Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore. ADIA’s investment will translate into a 1.16 per cent equity stake in Jio Platforms on a fully diluted basis.