PIF, ADIA may invest $ 1 billion in RIL’s fibre InvIT

Kolkata| Mumbai: Saudi Arabia’s Public Investment Fund (PIF) and Abu Dhabi Investment Authority (ADIA) are likely to invest about $500 million (Rs 3,700 crore) each to acquire a total 51% in the infrastructure investment trust (InvIT) structure formed by Reliance Industries Ltd (RIL) to monetise its fibre optic network assets, said people aware of the matter.
Over 48% of the InvIT—Digital Fibre Infrastructure Trust (DFIT) —will be owned by various RIL entities, with the rest being held by high net worth individuals (HNIs), they said.
“ADIA and PIF are likely to bring $500 million each to take 51% of DFIT,” one of the persons aware of the development told ET.