Saudi Arabia’s PIF to pick up 2.33% stake in RIL’s Jio for $1.5 bn: Report

Saudi Arabia’s Public Investment Fund is reportedly planning to buy 2.33% stake, worth $1.5 B, in RIL’s Jio Platforms. If PIF comes on board, Jio Platforms will have diluted 25% of its equity. Any new investors in future will be the strategic ones. Jio Platforms in less than 8 weeks has sold 22.38% stakes to investors like Facebook, KKR, TGP etc, securing Rs 104,326.95 crores.

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