iWorld
Saudi Arabia’s Public Investment Fund to invest Rs 11,367 cr in Jio Platforms
MUMBAI: Reliance Industries Limited (“Reliance Industries”) and Jio Platforms Limited (“Jio Platforms”), India’s leading digital services platform, today announced an investment of Rs 11,367 crore by The Public Investment Fund (“PIF”). This investment values Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore. PIF’s investment will translate into a 2.32 per cent equity stake in Jio Platforms on a fully diluted basis. With this investment, Jio Platforms has raised Rs 115,693.95 crore from leading global investors including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, TPG and L Catterton, since April 2020.
With the addition of PIF’s investment, Jio Platforms has established partnerships with a marquee set of global financial investors, who will contribute to establishing the Digital Society vision for India. Jio Platforms, a wholly-owned subsidiary of Reliance Industries, is a next-generation technology company focused on providing high-quality and affordable digital services across India, with more than 388 million subscribers.
Jio Platforms has made significant investments across its digital ecosystem, powered by leading technologies spanning broadband connectivity, smart devices, cloud and edge computing, big data analytics, artificial intelligence, Internet of Things, augmented and mixed reality and blockchain. Jio Platforms’ vision is to enable a Digital India for 1.3 billion people and businesses across the country, including small merchants, microbusinesses and farmers, so that all of them can enjoy the fruits of inclusive growth.
PIF is the sovereign wealth fund of Saudi Arabia and as part of its mandate to diversify its economy, has made its largest investment into the Indian economy to-date. This investment is in line with PIF’s strategy and mandate of investing in sectors and companies that generate long-term commercial returns to drive Saudi Arabia’s economic transformation as part of Vision 2030 objectives. This investment supports PIF’s mandate of building strong global investment partnerships to further Saudi Arabia’s investment reach and exposure.
Reliance Industries chairman and managing director Mukesh Ambani said, “We at Reliance have enjoyed a long and fruitful relationship with the Kingdom of Saudi Arabia for many decades. From Oil Economy, this relationship is now moving to strengthen India’s New Oil (Data-driven) Economy, as is evident from PIF’s investment into Jio Platforms. I have greatly admired the defining role PIF has played in driving the economic transformation of the Kingdom of Saudi Arabia. I welcome PIF as a valued partner in Jio Platforms and look forward to their sustained support and guidance as we take ambitious steps to accelerate India’s digital transformation for enriching and empowering the lives of 1.3 billion Indians.”
His Excellency Yasir Al-Rumayyan, PIF governor, commented: “We are delighted to be investing in an innovative business which is at the forefront of the transformation of the technology sector in India. We believe that the potential of the Indian digital economy is very exciting and that Jio Platforms provides us with an excellent opportunity to gain access to that growth. This investment will also enable us to generate significant long-term commercial returns for the benefit of Saudi Arabia’s economy and our country’s citizens, in line with our mandate to safeguard and grow the national wealth of the Kingdom.”
The transaction is subject to Indian regulatory and other customary approvals. Morgan Stanley acted as financial advisor to Reliance Industries and AZB and Partners and Davis Polk & Wardwell acted as legal counsels.
iWorld
Matka King campaign turns Mumbai into a city of cards
Massive card billboard, buses and shelters recreate 1960s Bombay.
MUMBAI: Mumbai isn’t just shuffling traffic this week, it’s dealing in drama, one card at a time. A high-impact outdoor campaign for Matka King has quite literally taken over the city, transforming everyday streets into a living, breathing throwback to the world of 1960s Bombay. At the centre of the spectacle is a towering billboard near the city’s T1 airport, created by visual artist Rob, assembling hundreds of playing cards into a striking portrait of Brij Bhatti, the infamous Matka King portrayed by Vijay Varma. The installation doesn’t just sit on the skyline; it commands attention, pulling eyes upward in a city otherwise known for looking straight ahead.
But the campaign doesn’t stop at a single visual. The streets themselves have been drafted into the narrative. Vehicles wrapped entirely in vintage playing card designs are cruising through Mumbai, while bus shelters constructed to resemble houses of cards have begun appearing across key locations. The effect is immersive less an advertisement and more a temporary rewriting of the city’s visual language, where modern Mumbai briefly slips into a stylised past.
The campaign leans heavily into experiential storytelling, extending the show’s world beyond screens and into public spaces. By using tactile, physical installations rather than purely digital amplification, it taps into a growing trend in entertainment marketing where scale, spectacle and shareability converge to create cultural moments rather than just promotional bursts.
Created by Abhay Koranne and directed by Nagraj Popatrao Manjule, the series features a wide ensemble cast including Kritika Kamra, Sai Tamhankar, Siddharth Jadhav and Gulshan Grover, among others. Produced under banners including Roy Kapur Films, the show is currently streaming on Prime Video across India and more than 240 countries and territories.
For now, though, the real action isn’t just on screen, it’s unfolding at traffic signals, bus stops and billboards. In a city that rarely pauses, this is one campaign that has managed to stop people mid-step and deal itself straight into public attention.
