InvestorQ : How much has PIF of Saudi Arabia invested in Jio Platforms?
diksha shah made post

How much has PIF of Saudi Arabia invested in Jio Platforms?

Answer
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Arya Nanda answered.
3 months ago


The string of interested buyers in Jio Platforms just does not seem to end and the caravan just seems to continue. The newest entrant in the Jio bandwagon is the Public Investment Fund or PIF of Saudi Arabia. PIF will invest $1.50 billion for a 2.33% stake in Jio Platforms and the talks for this stake sale have been going on between the Ambani family and the Saudi Fund for some time now. Like other PE and sovereign fund deals, PIB stake sale also values Jio Platforms at $65 billion. With this sale, RIL has managed to monetize 24.71% stake in Jio Platforms and it is now fairly close to the 26% mark. Cumulatively till date, Reliance has now raised over Rs.115,000 crore by monetizing 24.71% stake in Jio Platforms and this should also go down as one of the fastest pace of monetization by any Indian company.