Saudi Arabia's PIF becomes 10th investor in Jio Platforms, buys 2.32% stake

In a massive update, India's Jio Platforms is set to raise Rs 11,367 crores by selling 2.32 per cent of its stake to Saudi Arabia's sovereign wealth fund Public Investment Fund (PIF). This will be tenth investor picking up a stake in Reliance Industries telecom and digital business in under eight weeks. With investment from Saudi fund, equity value of Jip Platforms' w stands at Rs 4.91 lakh crore while enterprise value stands at Rs 5.16 lakh crore. 

In a statement released by group on Thursday, it informed that with latest investments parent Reliance Industries stands to get Rs 115,693.95 crore from 10 investors in exchange for total 24.70% stake in Jio. 

RE | TPG To Invest Rs 4,546.80 Cr In Jio Platforms For 0.93% Equity Stake

Earlier on Saturday, Reliance anunced that global alternative asset firm TPG will invest ₹ 4,546.80 crores in ir digital unit-Jio Platforms.  For TGP this investment will translate into a 0.93% equity stake in Jio Platforms on a fully diluted basis. Jim Coulter, Co-CEO TPG asserted that his company is excited to play an early role in Jio's journey as y continue to transform and vance India's digital ecomy.

“We are excited to partner Reliance to invest in Jio. As an investor in growth, change, and invation for over 25 years – and with a longstanding presence in India -- we are excited to play an early role in Jio's journey as y continue to transform and vance India's digital ecomy," Coulter said.

RE | Abu Dhabi Based Mubala Invests Rs 9,093 Crores In Reliance Jio, Stake Worth 1.85%

eleven investors in Jio Platforms w comprises of Facebook, Silver Lake, Vista, General Atlantic, KKR, Mubala, IA, TPG, L Catterton and PIF. 

About PIF

Saudi Arabia's Public Investment Fund (PIF) was founded in 1971 and is one of largest sovereign wealth funds across globe with total estimated assets of nearly $400 billion. PIF aims at investing funds on behalf of Government of Saudi Arabia and is developing a portfolio of high quality domestic and international investments diversified across sectors. 

RE | Jio Gets Into Meme-filled Banter With Amazon Prime; Anunces Good News For Its Customers

RE | Jio Get ditional Rs 4,546 Cr From Silver Lake, Co-investors After Initial Rs 5,655 Cr