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Social media major Facebook will invest Rs 43,574 crore into Jio Platforms, a unit of Reliance Industries, for a 9.99% stake. The investment will value Jio Platforms - a digital apps platform - at Rs 4.62 lakh crore.
"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," Mukesh Ambani-led RIL said in a statement on Wednesday.
Facebook buys 9.99% stake in Reliance Jio for Rs 43,574 cr, largest FDI in India's tech sector
Bloomberg Quint:
Facebook to Invest $5.7 Billion in Ambani’s Jio Platforms
"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," Mukesh Ambani-led RIL said in a statement on Wednesday.
Facebook buys 9.99% stake in Reliance Jio for Rs 43,574 cr, largest FDI in India's tech sector
Bloomberg Quint:
Facebook to Invest $5.7 Billion in Ambani’s Jio Platforms
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