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Reliance Retail Limited

Facebook to Invest ₹ 43,574 Crore in Jio Platforms for a 9.99% Stake Largest FDI for Minority Investment in India Partnership to Create…

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 ₹ 43,574 crore by Facebook into Jio Platforms. This investment by Facebook values Jio Platforms at ₹ 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 ranslate into a 9.99% equity stake in Jio Platforms on a fully diluted basis. Jio…