Another cheque for Reliance Jio: Saudi Arabia's PIF buys 2.32% stake for Rs 11,367 cr

Jio Platforms is set to raise Rs 11,367 crore by selling another 2.32% to Saudi Arabia's sovereign wealth fund Public Investment Fund (PIF). This will be the tenth investor picking up a stake in the Reliance Industries’ (RIL) telecom and digital business in eight weeks. The investments peg Jio Platforms’ equity value at Rs 4.91 lakh crore and enterprise value at Rs 5.16 lakh crore. With the latest investments, parent Reliance Industries stands to get Rs 115,693.95 crore from the 10 investors in exchange for 24.70 % stake, the group said in a statement Thursday.