Facebook to Invest Rs.43,574 crore in Jio for 9.99% Stake

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Mumbai, April 22, 2020:
Reliance Industries Limited, Jio Platforms Limited and Facebook, Inc.today announced the signing of binding agreements for an investment of RS 43,574 crore by Facebook into Jio Platforms. This investment by Facebook values Jio Platforms at RS 4.62 lakh crore pre-money enterprise value ($65.95 billion, assuming a conversion rate of ₹ 70 to a US Dollar). Facebook’s investment will translate into a 9.99% equity stake in Jio Platforms on a fully diluted basis.