Reliance Jio To Sell 2.32% Stake To Public Investment Fund

As expected, Reliance Jio has finally received its 11 investment on Thursday. The telecom operator has announced that the Public Investment Fund (PIF) is buying its 2.32 stake for Rs. 11,367 crore. After this, Saudi Arabia's sovereign wealth fund Public Investment Fund has become the tenth investor in the Jio platforms.

"PIF's investment will translate into a 2.32 percent equity stake in Jio Platforms on a fully diluted basis." Reliance Jio said. Adding to that, "With this investment, Jio Platforms has raised Rs. 115,693.95 crore from leading global investors including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, TPG, and L Catterton, since April 2020," Reliance Jio said.

However, the transaction needs to go through all regulatory approvals. For the unaware, Reliance Jio has more than 388 million subscribers in the country, and it is expected to cross 500 million users by FY23. "This investment will also enable us to generate significant long-term commercial returns for the benefit of Saudi Arabia's economy and our country's citizens, in line with our mandate to safeguard and grow the national wealth of the Kingdom," Yasir Al-Rumayyan, Governor of said while announcing the deal with Reliance Jio.

Reliance Jio Partners With Amazon Prime

Recently, Reliance Jio has announced that it has joined hands with Amazon Prime. Under this partnership, Reliance Jio is offering Amazon Prime services to its JioFiber users. The newly launched benefit is specially designed for Gold, Diamond, Platinum, and Titanium users.

It is worth mentioning that the Gold plan is priced Rs. 1,299, which ships 1,450GB data with 250 Mbps speed. The plan offers TV video calling, unlimited calling, and gaming to all networks, while the Diamond plan offers 4,250GB data per month along with 500 Mbps speed. The plan is also offering unlimited calling to all networks. The Platinum pack is available at Rs. 3,999, which ships 7,500GB data at 1 Gbps speed. Lastly, there is a plan of Rs. 8,499, where you get 15,000GB data at 1 Gbps speed.