ADIA, PIF invest $1.01 billion in RIL’s fibre assets

The Abu Dhabi Investment Authority (ADIA) and Saudi Arabia’s Public Investment Fund (PIF) have jointly invested $1.01 billion in the Digital Fibre Infrastructure Trust (DFIT), which holds Reliance Industries Limited’s (RIL) fibre optic assets. According to RIL, ADIA and PIF have agreed to purchase units worth Rs 37.79 billion each in the InvIT. In a separate development, Reliance Industrial Investments and Holdings has completed the re-capitalisation of the DFIT. RIL will continue as the sponsor of the InvIT, retaining a minimum 15 per cent stake, while the remaining 85 per cent could be sold to global investors, including ADIA and PIF.