Saudi Arabian government to invest Rs 11,367 crore in Jio Platforms. Despite the Corona crisis and the economy-corporate being troubled by the lockdown, Reliance Industries is constantly getting cash in its fortune. There is a competition for investment in Reliance Jio platforms. Now Saudi Arabia’s Public Investment Fund (PIF) will invest Rs 11,367 crore to buy a 2.32 per cent stake in Jio.
PIF is one of the world’s largest and most effective sovereign funds. Sovereign Fund is governed by the government of a country. In this way, in the last two months, foreign companies have invested more than Rs 1 lakh crore in Reliance Group Company Jio Platforms.
With this, the total investment in Jio Platform has been about Rs 1,15,693.95 crore. In this way, the total 25 per cent of Reliance Jio platforms will be in the hands of foreign companies. Reliance also plans to sell its stake up to 25 per cent. Reliance Group wants to free itself of debt in this way.
About this investment, Chairman of Reliance Industries Mukesh Ambani said, “We have had a good relationship with the royal family of Saudi Arabia in Reliance for many decades. This relationship with an oil economy is now going to strengthen India’s new oil economy data-based, which is evident from PIF Investment’s investment in Jio platforms. ‘
Most Discussed Deals
Saudi Arabian government to invest Rs 11,367 crore in Jio Platforms. The most popular deal of recent Reliance has been with the world’s tech company Facebook. Facebook has invested Rs 43,574 crore to buy a 9.99 per cent stake in Jio Platforms. Silver Lake then announced a 1.15 per cent stake with an investment of Rs 5,656 crore, Vista Equity announced a 2.32 per cent stake with an investment of Rs 11,367 crore and General Atlantic announced a 1.34 per cent stake with an investment of Rs 6,598 crore.
KKR also announced a 2.32 per cent stake in Jio Platforms with an investment of Rs 11,367 crore and Mubadala announced a 1.85 per cent stake with an investment of Rs 9,093 crore.