ADIA, PIF invested $507m in Reliance’s Fiber-Optic Assets.

Abu Dhabi Investment Authority, or ADIA, and Saudi Arabia’s Public Investment Fund, invested $507.2m each in buying units of Digital Fibre Infrastructure Trust. The latest fund infusion underscores the confidence of marquee investors in billionaire Mukesh Ambani’s plans to transform his conglomerate into a retail and technology behemoth and pivot away from its staple oil-refining business that he inherited after his father died in 2002. He has already secured over $25bn investment from backers such as Facebook and Google.