Saudi Arabia's sovereign wealth fund PIF invests Rs 11,367 cr for 2.32% stake in Jio Platforms

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Reliance Industries and Jio Platforms announced an investment of Rs 11,367 crore by The Public Investment Fund (PIF). This investment values Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore. PIF's investment will translate into a 2.32% equity stake in Jio Platforms on a fully diluted basis. With this investment, Jio Platforms has raised Rs 115,693.95 crore from leading global investors including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, TPG and L Catterton, since April 2020.

PIF is the sovereign wealth fund of Saudi Arabia and as part of its mandate to diversify its economy, has made its largest investment into the Indian economy to-date.

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