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Inc42 Shots | Saudi Arabia’s PIF Commits $1.49 Bn Investment In Jio Platforms

Inc42 Shots | Saudi Arabia’s PIF Commits $1.49 Bn Investment In Jio Platforms

On Thursday (June 18), Reliance Industries announced that Jio Platforms has received an investment of INR 11,367 Cr ($1.49 Bn) by Saudi Arabia’s Public Investment Fund for a 2.32% equity stake on a fully diluted basis. The investment values Jio Platforms at an equity value of INR 4.91 Lakh Cr and an enterprise value of INR 5.16 Lakh Cr.

With this investment, Jio Platforms has raised INR 1.15 Lakh Cr from leading global investors including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, TPG and L Catterton, since April 2020.

To read more, click here.

Author

Harshil Khatter

Inc42 Staff
https://inc42.com/videos/inc42-shots-mukesh-ambani-makes-reliance-net-debt-free-ahead-of-its-march-2021-target/