New Delhi, Business Desk. Public Investment Fund (PIF) has announced an investment in Reliance Industries Limited (RIL) ‘s Jio platform on Thursday. The company has announced to invest Rs 11,367 crore in the Jio platform. The company has valued the equity value of the Jio platform at Rs 4.91 lakh crore and the enterprise value at Rs 5.16 lakh crore. With this investment, PIF will buy 2.32 percent stake in Jio platform. With this, investment has been received from 11 companies in Mukesh Ambani’s Jio platform in 58 days. The Jio platform has raised Rs 1,15,693.95 lakh crore from these investment deals in exchange for 24.70 per cent stake.
Public Investment Fund PIF is the wealth fund of Saudi Arabia. This investment of the company is the largest investment ever made in the Indian economy. PIF is making strategic investments in companies under its Vision 2030. On this deal, PIF Governor Yasir Al-Rumayan said, ‘We are happy to invest in an innovative business. We believe that the Indian digital economy has immense potential and Jio Platforms will provide us a great opportunity to reach that growth. ‘
With this latest investment, the Jio platform has raised a total of Rs 1,15,693.95 lakh crore since April 22, 2020. The Jio platform has raised this investment from leading technology investors, including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, ADAI, TPG, L Catterton and PIF.
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On April 22, Facebook announced to buy 9.99 percent stake in Reliance Industries Limited’s Jio platform for Rs 43,573.62 crore. After this, Silver Lake had announced to buy 1.15 per cent stake on May 3 for Rs 5,655.75 crore. On May 8, Vista announced the purchase of 2.32 percent stake in Jio Platforms for Rs 11,367 crore. After this, General Atlantic announced on May 17 to buy 1.34 percent stake for Rs 6,598.38 crore. After this, KKR announced on May 22 to buy 2.32 percent stake for Rs 11,367 crore.
After this, on June 5, Mubadala announced to buy 1.85 per cent stake for Rs 9,093.60 crore. On the same day, Silver Lake once again announced to buy an additional 0.93 per cent stake for Rs 4,546.80 crore. Subsequently, the Abu Dhabi Investment Authority announced the purchase of 1.16 per cent stake for Rs 5,683.50 crore. Subsequently, on 13 June, TPG announced a 0.93 per cent stake in Jio platform for Rs 4,546.8 crore and L Catterton announced 0.39 per cent stake in Jio platform for Rs 1,894.50 crore. After that, on June 18, Thursday, PIF has announced an investment of Rs 11367 crore for 2.32 per cent stake in Jio platform.
