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Saudi Arabia’s PIF Picks Up 2.32% Stake In Jio, 11th Deal In 9 Weeks For RIL

Jun 18, 2020 08:07 PM IST Business Business

Saudi Arabia’s PIF will invest Rs11,367 crore in Jio Platforms for a 2.32% equity. Saudi Arabia’s PIF or Public Investment Fund is one of the World’s largest sovereign wealth fund. The investment by PIF in Jio Platforms is at an equity valuation of Rs 4.91 lakh crore. RIL has now shed 24.7% stake in Jio to raise a whopping Rs 115,693.95 crore.