Reliance raises ₹9,555 crores from the new PIF-Reliance Retail deal

Mukesh Ambani backed Reliance Retail has raised ₹9,555 crores from a deal with Saudi Arabia’s Public Investment Fund (PIF). The new PIF-Reliance Retail deal ensures that PIF, one of the world’s largest sovereign wealth funds, buys 2% in Reliance Retail. This deal is after its earlier investment of ₹11,367 crore in Jio Platforms and now has a 2.3% share in Jio.