Reliance Jio Platforms Attracts Rs 11,367 Crore Investment from Saudi Arabia’s Public Investment Fund

Reliance Jio Platforms is continuing to attract global investors to achieve the Digital Society vision for India. The largest telecom operator of India has announced an investment of Rs 11,367 crore by The Public Investment Fund (PIF). With the Investment, PIF will acquire 2.32% stake in Jio Platforms on a fully diluted basis. The investment by PIF value Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore. Reliance Jio’s vision to enable a Digital India for 1.3 billion people will surely grow with the latest deal with The Public Investment Fund.

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Jio-PIF Deal will Strengthen Relationship with Saudi Arabia: Mukesh Ambani

Mukesh Ambani, who is the Chairman and Managing Director of Reliance Industries, stated that the telco had enjoyed a long relationship with the Kingdom of Saudi Arabia for many decades. From the oil economy, now the relationship is heading to strengthen India’s new oil (Data-driven) economy as it is evident from PIF’s investment in Jio Platforms.

Yasir Al-Rummayyan, who is the Governor of PIF, stated that the recent investment in Jio Platforms would enable PIF to generate significant long-term commercial returns for the benefit of Saudi Arabia’s economy and citizens.

Reliance Jio Raised Rs 115,693.95 Crore from Global Investors So Far

Reliance Jio is attracting huge investments from global investors since April 2020. Among all deals, instant messaging platform giant Facebook has acquired a major chunk in Jio Platforms by investing Rs 43,573.62 crore in exchange of 9.99 % stake in the company. Also, Reliance Jio on Friday stated that it would sell 1.32 % stake to US private equity firms TPG and L Catterton for an investment of Rs 6441.3 crore.