Saudi wealth fund PIF picks up stake in India's Jio Platforms for $1.5b

Saudi wealth fund PIF picks up stake in India's Jio Platforms for $1.5b

Mukesh Ambani. Photo: Bloomberg

Jio Platforms has signed up Public Investment Fund (PIF) as its tenth foreign investor in just over 8 weeks. The Saudi Arabian sovereign wealth fund will pick up 2.32% stake in the Reliance Industries subsidiary for Rs11,367 crore ($1.5 billion), a release issued by the Mukesh Ambani company said today.