Reliance Jio gets investment from Public investment fund (PIF) of Saudi Arabia

ST Staff
10.27 PM

The investment of the Public Investment Fund ( PIF) from Saudi Arabia, which manages over $300 billion in assets, will provide money in addition to the $8 billion that Jio has raised over the past three deals.
 

According to the reports that came out last week, it stated that Saudi's investment firm Public investment fund (PIF) of Saudi Arabia was eyeing on buying a minority stake in India's based Reliance industries digital unit Jio. The deal between the two giants has been finalized.

The investment of the Public Investment Fund ( PIF) from Saudi Arabia, which manages over $300 billion in assets, will provide money in addition to the $8 billion that Jio has raised over the past three deals.

About a month ago, the private equity firm Vista Equity Partners said it acquired 2.3 per cent of Jio's stock for 113.67 billion rupees ($1.5 billion)
Reliance cut Facebook $5.7 billion deal on 22 April for a 9.99% stake in Jio Platforms and raised $750 million from private equity firm Silver Lake, some days later.

Mubadala Investment Company, an Abu Dhabi based investor, has invested Rs 9.093.60 crore for 1.85% stake in Jio Platforms last week. It was Jio's sixth equity investment out of the total equity value of 4.91 lakh crore and Rs 5.16 lakh crore enterprise value.

Jio platform has so far raised 1.04 lakh crore rupees with selling 22.38%stake of the company.

The mega telo has gained all this investment from the following companies -

S No

Investor

Amount

Per cent Stake

1

Facebook

43,573.62

9.99%

2

Silver Lake Partners

5,655.75

1.15%

3

Vista Equity Partners

11,367.00

2.32%

4

General Atlantic

6,598.38

1.34%

5

KKR

11,367.00

2.32%

6

Mubadala

9,093.60

1.85%

7

Silver Lake Partners – Additional Investment

4,546.80

0.93%

8

Abu Dhabi Investment Authority

5,683.50

1.16%

9

TPG

4546.8

0.93%

10

L Catterton

1894.5

0.39%

 

Total

1,04,326.64

22.38%

This investment towards Jio by the Saudi company is the biggest in India for Mubadala Development company.

Parent company of Jio, Reliance industries also raised Rs 53,124 crore from a rights issue, which got an amazing response from its shareholders and was subscribed 1.59 times.

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