11th deal in 9 weeks: Saudi Arabia’s PIF invests Rs 11,367 Crore in Jio Platforms

Team Udayavani, Jun 18, 2020, 6:03 PM IST

New Delhi: Reliance Jio on Thursday announced that Saudi Arabia’s Public Investment Fund (PIF), one of the world’s largest sovereign wealth funds, would be investing Rs 11,367 crore in exchange for a 2.32 per cent equity stake in Jio Platforms.

Notably, this is the 11th investment in the digital unit of RIL in nine weeks. Jio’s ten investors include Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, TPG, L Catterton and now the PIF. It has so far raised Rs 115,693.95 crore from these investments.

The investment by PIF in Jio Platforms is at an equity valuation of Rs 4.91 lakh crore and an enterprise valuation of Rs 5.16 lakh crore, according to a release by the company.

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