Facebook to Invest 43,574 Crore in Reliance Jio for 9.99% Equity Stake

Mumbai : The world’s largest social networking site Facebook has announced a big investment on the Jio platform. A statement issued by the company said that Facebook will invest Rs 43,574 crore on the Jio platform for a 9.99 per cent stake. After this big deal on Wednesday, Facebook has now become the largest shareholder of Jio Company. After this investment, the enterprise value of Jio platforms has now increased to 4.62 lakh crore.

Facebook Invests $5.7 billion in India’s Jio Platforms https://t.co/cvhpfy7JPc pic.twitter.com/mrzk9oKA0M

— Facebook Newsroom (@fbnewsroom) April 22, 2020

Facebook said, ‘This investment reflects our commitment to India. We have also been excited by the huge changes that Jio has brought in India. In less than four years, Reliance Jio has brought more than 388 million people (about 38 crore) to the online platform. So we are committed to connect with more people in India through Jio.’

Facebook to invest Rs 43,574 crores in Jio platforms for a 9.99% equity stake: Jio-Reliance Industries Limited statement

— ANI (@ANI) April 22, 2020