ADIA And PIF To Pump In Rs 7,558 Crore In RIL’s Fibre Optics Assets Business

  • Abu Dhabi-based investment authority and Saudi Arabia’s public investment fund to jointly invest Rs 7,558 crore in Reliance fibre-optics business.
  • Among others, Both of these investment funds have already invested $2.2 billion in RIL’s Jio Platforms.

Mukesh Ambani-owned Reliance Industries on October 30, announced, Abu Dhabi Investment Authority (ADIA) and Saudi Arabia’s Public Investment Fund (PIF) will jointly invest Rs 7,558 crore (or about $1.01 billion) in funding in Digital Fibre Infrastructure Trust.

According to the reports, The Digital Fibre Infrastructure Trust (which was earlier part of Reliance Jio) majorly holds Reliance Industries fiber-optics business assets.

Meanwhile, ADIA and PIF both agreed to acquire units worth Rs 3,779 crore (or about $506 million) in Infrastructure Investment Trusts (InvIT).

Further, Reliance Industrial Investments and Holdings Limited (RIIHL) has completed the recapitalization to improve the financial stability in Digital Fibre Infrastructure Trust (DFIT), said Reliance Industries.

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Among other top investors, Both of the investment funds have already invested $2.2 billion in Reliance Jio Platforms earlier this year.

In December 2019, Reliance Jio sold its tower assets to Canada-based assets management company Brookfield Asset Management for an investment of Rs 25,215 crore (or about $3.5 billion).

In March last year, Reliance Jio Infocomm demerged its fiber and tower businesses into Jio Digital Fibre Pvt. Ltd and Reliance Jio Infratel Pvt. Ltd. Both of these entities are now operating separately.

The fiber-optic unit The Digital Fibre Infrastructure Trust has a total debt of Rs 87,296 crore (or about $11.7 billion), which mostly includes the credit suppliers.

Reliance Industries telecom arm Reliance Jio so far has raised $25 billion (or about Rs 1.8 lakh crore) in funding from various investors, including Google, Qualcomm, Facebook, Silver Lake, ADIA, PIF, General Atlantic, and others.

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