 "Reliance sells 2.32% stake in Jio to Saudi wealth fund PIF for Rs 11,367 cr")
Reliance Industries Ltd on Thursday said it has sold a 2.32 per cent stake in its digital unit to Saudi Arabia's Public Investment Fund (PIF) for Rs 11,367 crore,taking the cumulative fund raising to about Rs 1.16 trillion in two months.
Starting with Facebook Inc on April 22, Reliance has sold almost 25 per cent of equity in Jio Platforms - the maximum reports suggest the company intends to dilute to financial investors.
The investment by Saudi sovereign wealth fund is "at an equity value of Rs 4.91 trillion and an enterprise value of Rs 5.16 trillion", the company said
