FILE Photo: A woman checks her cell cell phone as she walks earlier a cell shop of Reliance Industries’ Jio telecoms unit, in Mumbai, India, July 11, 2017. REUTERS/Shailesh Andrade

June 18, 2020

BENGALURU (Reuters) – Saudi Arabia’s General public Expense Fund will commit 113.67 billion rupees ($1.49 billion) in Reliance Industries Ltd’s Jio Platforms, the Indian oil-to-telecoms conglomerate stated on Thursday.

The Saudi sovereign prosperity funds’ investment will translate into a 2.32% equity stake in Jio Platforms on a entirely diluted foundation, Reliance reported in a statement

(Reporting by Philip George in Bengaluru Modifying by Vinay Dwivedi)

Supply url