MUMBAI| Business Desk : Reliance Industries Limited (RIL) has announced that the Saudi Arabia’s Public Investment Funds (PIF) is investing Rs 11,367 crore for a 2.32 per cent stake in the Reliance Jio platforms.
Saudi Arabia’s PIF is one of the world’s largest sovereign wealth funds.
The investment by PIF, estimated to own combined assets of nearly $400 billion, in Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore.
In a statement, Reliance said “PIF’s investment is another strong endorsement of Jio’s tech capabilities, and a strong endorsement Of Jio’s long-term growth potential.“
With this deal, Reliance had sold 24.7 per cent of Jio Platforms to investors including Facebook Inc, General Atlantic, Silver Lake (twice), Vista Equity Partners, KKR, Mubadala Investment Company and ADIA, TPG and L Catterton securing Rs 115,693.95 crore in nine weeks since April 22 this year.
|Date||Investor||Deal Value(In Crore)||% of Stake|
|22 April||Facebook Inc.||43,574||9.99%|
|3 May||Silver Lake||5,656||1.15%|
|17 May||General Atlantic||6,598||1.34%|
|5 June||Silver Lake||4,547||0.93%|
|13 June||L Catterlon||1,894.5||0.39%|