Saudi fund joins Jio Platforms

Jio Platforms on Thursday received yet another investment from an overseas entity when the Public Investment Fund (PIF) of Saudi Arabia picked up a 2.32 per cent stake for Rs 11,367 crore in the Reliance Industries subsidiary.

This is the 11th such investment in Jio Platforms within nine weeks and it has cumulatively raised Rs 115,693.95 crore from leading global investors, including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, TPG and L Catterton, since April.

While all these investors now together hold 24.70 per cent, the crucial question is whether Reliance will continue to hawk stakes to overseas entities.