Saudi Arabia’s Public Investment Fund invests Rs 113.67 billion in Jio Platforms

July 2020

Saudi Arabia’s Public Investment Fund (PIF) has invested Rs 113.67 billion ($1.5 billion) in Jio Platforms. PIF’s investment will translate into a 2.32 per cent equity stake in Jio Platforms on a fully diluted basis. Morgan Stanley acted as the financial adviser to RIL while AZB & Partners and Davis Polk & Wardwell acted as legal counsels.