Saudi Arabia’s wealth fund PIF to invest $1.5 Bn in Jio: Report

02:30:00 PM, Tuesday 16th of June 2020 | in business

Suadi Arabia’s wealth fund Public Investment Fund (PIF) is reportedly investing around $1.5 billion in Mukesh Ambani led Reliance Jio for a 2.33% stake. If the latest investment gets through, it will mark the eleventh deal closed by the Reliance Industries’ digital unit in the past weeks. So far, Jio has bagged Rs 1,04,326.65 crore from the likes of nine investors by diluting a 22.38% total stake.