 "I-T dept reverses stance on NCLAT's proposed demerger order of Reliance Jio")
Reliance Jio announced a 2.3 per cent equity stake sale to Saudi Arabia's sovereign wealth fund Public Investment Fund for Rs 11,367 crore. The company said that this investment will further help Jio in building a technology growth platform for consumers. With this investment by PIF, Reliance Jio has raised Rs 1.15 trillion (Rs 115,693.95 crore) through partnerships with global investors in nine weeks.
Previous investors include Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, TPGand LCatterton. The investments began in April 2020. This investment values Jio Platforms at an equity value of Rs 4.91 trillion and
