Facebook buys 9.99% stake in Jio Platform for $5.7 billion (Rs 43,574cr)


"Today we are announcing a USD 5.7 billion, or Rs 43,574 crore, investment in Jio Platforms Ltd, part of Reliance Industries Ltd, making Facebook its largest minority shareholder," the company said in a statement. Reliance in a separate statement said the investment by Facebook values Jio Platforms at Rs 4.62 lakh crore pre-money enterprise value (USD 65.95 billion) "Facebook's investment will translate into a 9.99% equity stake in Jio Platforms on a fully diluted basis,"

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