Jio Platforms has signed up Public Investment Fund (PIF) as its tenth foreign investor in just over 8 weeks. The Saudi Arabian sovereign wealth fund will pick up 2.32% stake in the Reliance Industries subsidiary for Rs11,367 crore ($1.5 billion), a release issued by the Mukesh Ambani company said today.

The latest investment, like most of the previous ones, gives Jio Platforms an equity valuation of Rs4.91 trillion and an enterprise value of Rs5.16 trillion.

This takes the total investment by foreign investors in Jio Platforms to Rs1.15 trillion rupees for a 24.71% combined stake in the company.

Besides PIF, the list of 10 investors in Jio now includes Facebook; six private equity companies namely General Atlantic, TPG, KKR, Silver Lake, L Catterton, Vista Equity Partners and two sovereign funds of Abu Dhabi — Abu Dhabi Investment Authority and Mubadala Investment Company.Of the Rs43,574 crore that it will receive from Facebook, Jio plans to use Rs28,000 crore to redeem optionally convertible preference shares (OCPS) of its parent RIL and retain Rs15,000 crore in its books, Jio’s top management had said in a conference call on 22 April.