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Khaitan acts as co-counsel on $5.3bn Jio Fibre InvIT majority investment by Abu Dhabi, Saudi funds

Reliance Industries ... said that Abu Dhabi Investment Authority and Saudi Arabia’s Public Investment Fund (PIF) have invested ₹3,779 crore each in Jio Fibre’s network. The sovereign wealth funds from Gulf will acquire a total 51% in the infrastructure investment trust (InvIT) — Digital Fibre Infrastructure Trust (DFIT). The remaining 49% will be held by various Reliance entities.


Khaitan & Co advised Reliance Group led by a team of partner Rahul Dutt, partner Manisha Shroff, principal associate Rolwine Alva, principal associate Kapish Mandhyan, associate Enakshi Jha, associate Sonakshi Faujdar advised on the banking and finance aspects. partner Rahul Dutt, partner Ashraya Rao, principal associate Kapish Mandhyan, Counsel Abhinav Chandan and associate Tanvi Dabir advised on the corporate laws, shareholders agreement and project documents aspects of the transaction.

Khaitan said in a press released that the firm:

Acted as Reliance group co-counsel in respect of the investment in the Fibre Trust by Abu Dhabi Investment Authority (ADIA) and Public Investment Fund of Saudi Arabia (PIF). Assisted Reliance Industrial Investments and Holdings Limited (RIIHL) and Digital Fibre Infrastructure Trust (“Fibre Trust”) in the following lending transactions: (a) Rupee term loan of INR 25000 crore availed by the Fibre Trust; (b) Rupee term loan of INR 24720 crore availed by Jio Digital Fibre Private Limited (“JDFPL”) from the Fibre Trust; (c) Rupee term loan of INR 14706 crore availed by JDFPL from the Fibre Trust.


Deal value: USD 5.3 billion

This deal report is based on a firm's press release and may be only partially complete. Some firms or names of advisers may be therefore be missing.

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