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from Deccan Herald
The Saudi Arabian sovereign wealth fund (SWF), Public Investment Fund (PIF), has agreed to buy a 2.32 per cent stake in the Jio Platforms for a sum of Rs 11,367 crore. The deal, which is 11th in nine weeks for Reliance Industries-controlled Jio Platforms, is subject to regulatory approvals right now. This investment puts Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore -- the same valuation accorded by UAE-base SWFs.