Saudi Arabia's Public Investment Fund (PIF) has become the latest investor express interest to invest over Rs 11,000 crore for a 2.32 percent stake in the Jio Platforms and join a global group of reputed technology and private equity investors ranging from Facebook to L Catterton.
This has pushed Reliance’s digital unit’s investment mop-up to over Rs 1.15 lakh crore.
Here are five key things to know about the deal:
> Saudi Arabia’s PIF, one of the world’s largest sovereign wealth funds, will invest Rs 11,367 crore for 2.32 percent of Jio Platforms.
>PIF's investment is a historic eleventh investment in the Reliance Industries (RIL) digital unit in nine weeks.
> After PIF's investment, RIL, the oil-to-retail-to-telecom conglomerate, has now shed 24.7 percent stake in Jio.
>The investment by PIF in Jio Platforms is at an equity valuation of Rs 4.91 lakh crore and an enterprise valuation of Rs 5.16 lakh crore.
Also Read: Jio-PIF deal: All you need to know about Saudi Arabia's PIF, the latest investor in Jio Platforms
> 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.
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