Facebook to invest Rs 43,574 cr in Reliance Jio

Mumbai (Maharashtra): Facebook has announced to invest Rs 43,575 crore in Jio Platforms for a 9.99 per cent stake.

“Reliance Industries Limited (Reliance Industries), Jio Platforms Limited (Jio Platforms) and Facebook, Inc. (“Facebook”) today announced the signing of binding agreements for an investment of Rs 43,574 crore by Facebook into Jio Platforms,” read a statement by Reliance Industries Limited on Wednesday.

This investment by Facebook values Jio platforms at Rs 4.62 lakh crore pre-money enterprise value (Dollar 65.95 billion, assuming a conversion rate of Rs 70 to a US Dollar).

#Lockdown के बीच #Facebook–#jio में बड़ी डील, फेसबुक 9.99 फीसदी हिस्सेदारी के लिए जिओ में निवेश करेगा 43,574 करोड़#JioFacebook

Read-https://t.co/BDE4FY2zxh pic.twitter.com/kBpHNDSxtS

— Newsroom Post (@NewsroomPostCom) April 22, 2020

Facebook’s investment will translate into a 9.99 per cent equity stake in Jio Platforms on a fully diluted basis, the statement added. (ANI)