As Jio Platforms attracts billions of dollars from various global investors, Reliance Industries Limited (RIL) is presumed to sell more stakes to Public Investment Fund (PIF), Saudi Arabia based. Neither of PIF or RIL has come up with an official statement yet, but various sources have covered that the Mukesh Ambani led behemoth might sell stakes worth $1 billion in Jio Fibre assets.
Besides this, Abu Dhabi Investment Authority (ADIA) is already weaving plans to invest $1 billion in Jio. Notably, both PIF and ADIA have invested around $2.2 Million in Jio Platforms already.
It is believed that if these to new funding deals of Jio Platforms reach to final, the relations between Reliance and the Middle East will grow further, also considering the massive capital infusion of Saudi and UAE’s sovereign wealth funds in Reliance back in June.
Moreover, Saudi Aramco is also in talks to equip $15 billion stake in Reliance’s petrochemical and refining business, along with a strategic investment in Reliance’s greenfield petroleum refinery in Maharashtra, India.
At present, Jio Platforms has an equity valuation between INR 4.36 lakh crore to INR 4.91 lakh crore. The total investments from financial and strategic investors into Jio Platforms has so far reached INR 152,056 crore. The other big investors in the company are Facebook, Silver Lake, Vista, General Atlantic, KKR, Mubadala, TPG, Abu Dhabi Investment Authority, Intel Capital and Qualcomm etc.