Reliance Jio prepares to bring big investment from Saudi and Abu Dhabi

Mukesh Ambani's company Reliance Jio, which has received huge funding from 5 foreign companies including Facebook, can now invest in the top 3 investors from Middle East countries. According to sources, the company's negotiations with these three sovereign wealth funds have progressed well. In the company that is going ahead with the digital business of Reliance Industries Limited, it may be announced that these investors will invest huge capital soon. According to Bloomberg's report, Abu Dhabi's Mubadala Investment Company can invest $ 1 billion in Reliance Jio. Apart from this, investments can also be made in Reliance Jio by the Abu Dhabi Investment Authority and The Public Investment Fund of Saudi Arabia.

So far, Reliance Jio has received $ 10 billion investment through companies including Facebook, Vista, General Atlantic. Along with this, the company is also in the process of listing overseas. Mukesh Ambani is working on a strategy to make his business group completely debt-free through a large investment in Reliance Jio, a company that intervenes in the business of retail, education to payments. Not only this, the valuation of the company will also increase due to external investment. Explain that Mukesh Ambani, the head of Reliance Industries, has set a target of making the group completely debt free by 31 March 2020.

Earlier, Saudi Arabian oil major Aramco had also expressed its willingness to invest in Reliance Jio, but the deal seems to be stuck as the business environment worsens due to the Corona crisis. However, market experts say that Reliance Jio can move forward on the path of becoming debt free by acquiring investments from several companies including rights issue and Facebook. Reliance Jio has not made any official comment to the news of investment from investors of Middle East countries. Facebook has invested Rs 43,574 crore. While giving information about this, Reliance Jio had said that many global players are going to invest in the company.

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