Reliance announced that the Abu Dhabi Investment Authority and the Saudi Public Investment Fund (PIF) will invest 37.8 billion rupees ($ 507.2 million) in purchasing units of the Digital Fiber Infrastructure Trust.
The company shed light on powerful partners in what it called a “significant asset base”, according to Bloomberg, and the recent infusion of money confirms the confidence of prominent investors in billionaire Mukesh Ambani’s plans to transform his group into a giant in the field of retail and technology and move away from the core oil refining business. . It has already secured a $ 25 billion investment from supporters such as Facebook Inc and Google.
This investment follows the PIF’s acquisition, earlier this year, of a 2.32 percent stake in the “Geo Platforms” company, the digital services platform, as this investment strengthens the fund’s presence in the Indian market and the technology sector in particular.
The deal comes in line with the fund’s strategy to invest in sectors and companies that achieve attractive long-term financial returns.