FILE PHOTO: A woman checks her mobile phone as she walks past a mobile store of Reliance Industries’ Jio telecoms unit, in Mumbai, India, July 11, 2017. REUTERS/Shailesh Andrade
BENGALURU (Reuters) – Saudi Arabia’s Public Investment Fund will invest 113.67 billion rupees ($1.49 billion) in Reliance Industries Ltd’s (RELI.NS) Jio Platforms, the Indian oil-to-telecoms conglomerate said on Thursday.
The Saudi sovereign wealth funds’ investment will translate into a 2.32% equity stake in Jio Platforms on a fully diluted basis, Reliance said in a statement bit.ly/3hCckn3.
Reporting by Philip George in Bengaluru; Editing by Vinay Dwivedi
Our Standards:The Thomson Reuters Trust Principles.
This article was originally published by Reuters.com. Read the original article here.