Saudi Arabia’s Public Investment Fund will inject 113.7 billion rupees (about $1.5 billion) in Jio Platforms, the digital unit of Indian telecom company Reliance Industries. The investment represents a 2.32% stake and gives Jio an equity valuation of 4.91 trillion rupees.
The deal with Saudi Arabia marks the Mumbai-based company’s 11th funding deal in less than two months, bringing its total backing during that time span to about $15.2 billion.
Reliance Industries has sold more than 25% of Jio since April, when Facebook ignited the investment spree with its $5.7 billion deal. Since then, Vista Equity Partners and KKR have each dropped $1.5 billion on the company and Abu Dhabi’s Mubadala grabbed a stake of its own for $1.2 billion, among other deals. Last week, Indian regulators opened a probe into Facebook’s investment.
Source: Pitchbook
Can’t stop reading? Read more
AURELIUS exits LSG Asia-Pacific after operational turnaround and margin expansion
AURELIUS exits LSG Asia-Pacific after operational turnaround and margin expansion AURELIUS has...
Ares lands $9.8bn for flagship opportunistic credit strategy
Ares lands $9.8bn for flagship opportunistic credit strategy Ares has raised more than $9.8bn for...
CVC DIF appoints Enrico Del Prete to scale $25bn value-add platform
CVC DIF appoints Enrico Del Prete to scale $25bn value-add platform CVC DIF has appointed Enrico...