5 June 2020 Net D:E RIL has announced that Mubadala would invest INR90.94b in Jio Platforms for 1.85% equity stake at post-money equity value of INR4.91t and at EV of INR5.2t. Jio Platforms valuation in this deal is in line with the previous four deals at INR4.91t post-money equity. Mubadalas investment is fresh equity infusion into Jio Platforms (like the previous deals) and would not dilute the stake of earlier investors (Facebook, Silver Lake, Vista, General Atlantic and KKR) as RJios capital structure is fixed and this is fresh equity through conversion of OCPS (held by WOS of RIL). Similar to the previous deals, Jio Platforms is expected to retain 10% of the cash and the rest would be transferred to its parent company, which could be subsequently used for deleveraging. Moreover, 10% of Mubadalas investment (INR90.94b) would flow to Jio Platforms and the rest would to the parent company.