Reliance Industries Limited (RIL) is in discussions with Saudi Arabia’s Public Investment Fund (PIF) for selling a 2.33 per cent stake in Jio Platforms for an estimated $1.5 billion.

Abu Dhabi’s Mubadala and ADIA have already picked up significant stakes in Jio Platforms amounting to $1.2 billion and $750 million, respectively.

With the investment, Saudi’s PIF is set to become the tenth investor to make an investment in Jio Platforms.