Reliance CEO gets $1.5 billion from Saudi Arabia for his Jio war chest

Reliance CEO gets $1.5 billion from Saudi Arabia for his Jio war chest

Now he has attracted a powerful new investor with deep pockets: Saudi Arabia. The kingdom’s sovereign wealth fund, the Public Investment Fund (PIF), will pay $1.5 billion for a 2.3% stake in Jio Platforms, the digital technology arm of Ambani’s sprawling conglomerate Reliance Industries. The deal, announced on Thursday, values Jio Platforms at close to […]