RIL shares jump over 3 per cent after Saudi Arabia’s PIF invests Rs 9,555 crore in Reliance Retail

Shares of Reliance Industries Ltd gained over 3 per cent in early trade on Friday after the company’s retail arm raised Rs 9,555 crore from Public Investment Fund (PIF) of Saudi Arabia.

The market-heavyweight stock jumped 3.37 per cent to Rs 2,021 on the BSE.

At the NSE, it rose by 3.32 per cent to Rs 2,020.

Billionaire Mukesh Ambani-run Reliance Industries Ltd’s retail arm on Thursday raised Rs 9,555 crore from Public Investment Fund (PIF) of Saudi Arabia, taking total fundraise in the last two months to Rs 47,265 crore.

PIF will take a 2.04 per cent stake in Reliance Retail Ventures Ltd (RRVL), the Indian firm said in a statement.