Sunday, June 20, 2021
Home Technology Facebook buys a 9.99% stake in Reliance Jio for Rs. 43,574 crore

Facebook buys a 9.99% stake in Reliance Jio for Rs. 43,574 crore

Reliance Industries‘ Jio Platforms and Facebook, Inc. announced the signing of agreements for an investment of Rs. 43,574 crore by Facebook into Jio Platforms. Facebook’s investment will translate into a 9.99% equity stake in Jio Platforms on a fully diluted basis. This investment by Facebook values Jio Platforms at Rs 4.62 lakh crore pre-money enterprise value. The partnership between Facebook and Jio is unprecedented in many ways. This is the largest investment for a minority stake by a technology company anywhere in the world and the largest FDI in the technology sector in India.

Read More – Economic Times | Business Today | Financial Express | News 18

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Akshay Washindkar
23, Aspiring Actor, Screenplay Writer, Filmmaker, Content Writer @Headline English.