Saudi Arabia’s PIF commits $1.49 Bn investment in Jio platforms
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On Thursday, Reliance Industries announced that Jio Platforms has received an investment of INR 11,367 Cr ($1.49 Bn) by Saudi Arabia’s Public Investment Fund for a 2.32% equity stake on a fully diluted basis. The investment values Jio Platforms at an equity value of INR 4.91 Lakh Cr and an enterprise value of INR 5.16 Lakh Cr. With this investment, Jio Platforms has raised INR 1.15 Lakh Cr from leading global investors.